Cryptocurrency enthusiasts have proved quite charitable, at least as far as Fidelity Charitable is concerned.Announced today, the global charity revealed it has received $69 million in cryptocurrency donations in 2017, making it the fastest-growing asset type accepted by the firm. According to Fidelity Charitable's annual report, the funds, which...
Israel's government confirmed Monday that it would treat bitcoin and other cryptocurrencies as a kind of property for tax purposes.The notice confirms past indications that the Tax Authority will regard cryptocurrencies as "a property, not a currency", making it therefore taxable as such. The Authority's position was first detailed in...
An Indian tax official has said that gains from cryptocurrency investment are subject to tax liability and that it will seek those trying to avoid paying up.During an event on Tuesday this week, Sushil Chandra, chairman of India's Central Board of Direct Tax (CBDT) confirmed that around 100,000 notices...
There's a handful of initial coin offering (ICO) issuers working out of Tel Aviv, Israel, but they typically domicile elsewhere.That's not particularly helpful for the government since it loses out, not only on tax revenue, but also opportunities to market Israel as a place to do business.And according to...
More than 100,000 South Korea residents have signed petitions asking the government there to step back from any plans to close the country's cryptocurrency exchanges.Earlier this week, the South Korean Justice Ministry announced that it was preparing legislation to close the country's online exchanges amid a speculative boom in...
New reports suggest that the South Korean government is intensifying its moves against the country's bitcoin exchanges.Reuters reported tonight that Bithumb and Coinone were raided by police and tax office officials on Wednesday and Thursday. Citing employees of the two exchanges, which are among the largest in South Korea, the...
As the cryptocurrency economy’s market capitalization surpasses $320Bn, lots of digital asset proponents are trying to figure out ways to write off capital gains and stay tax compliant. This week the cryptocurrency and blockchain accounting firm, Libra, has launched a new compliance application for market makers and exchanges. Additionally,...
This week the battle between the U.S. Internal Revenue Service (IRS) and the San Francisco firm Coinbase is heating up once again as a U.S. Magistrate Judge is siding with the tax collector. Also read: Sberbank Apologizes for Buying Nearly All Graphics Cards on the Russian Market   U.S. Magistrate Judge: ‘It’s Legitimate...
Indian bitcoin exchanges are raising questions over the applicability of goods and service tax (GST) to their operations.Seven bitcoin exchanges in the nation including Unocoin, Zebpay and CoinSecure are seeking clarity over how their businesses might be classified under GST rules, and are planning to approach the Authority for...
As cryptocurrency trading and investment become more prevalent, users often find that they need tools to track their portfolios to analyze gains or losses for tax and recordkeeping purposes. This week news.Bitcoin.com spoke with Dario Kachel, the founder of Cointracking.info, a digital asset tracking service for investors and traders. Also...