News
According to Norwegian authorities, more than 73,000 people in the country reported on $4 billion in crypto holdings for the 2024 tax year.
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Taxes News
It is hard to define cryptocurrency taxes, because there is a lot of controversy surrounding it today. Society still has no consensus even on whether digital currencies are a property or a currency, and that triggers a huge difference in taxation procedure. The speed of exchange rate flows makes it impossible to establish a taxation time period equally suitable for everyone. Also, there are a lot of cryptocurrencies that were particularly designed to protect user’s anonymity and their protocols wouldn’t allow any government to tax it.
As cryptocurrency market is growing, and its sheer dollar value makes it more likely to catch an attention of regulators. Cryptocurrencies are also a great way of money laundering, so no government will be able to ignore the subject. Today there are a lot of news about new cryptocurrency taxes laws and it looks like there will be more over time.
- How to
Skipping cryp to taxes can trigger hefty fines and legal issues. Find out what really happens if you fail to report or pay taxes on your holdings.
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HMRC has issued 65,000 crypto tax warning letters, but experts say UK investors who haven’t been contacted could still owe taxes.
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HMRC sent nearly 65,000 warning letters to crypto investors last year, more than double the previous year, as the UK steps up efforts to trace undeclared capital gains.
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Less than a week after reports of an agreement between the “Bitcoin Jesus” and US authorities, Roger Ver’s 2024 criminal tax case may be nearing an end.
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South Korea’s National Tax Service warned that cold wallets are not beyond its reach, as it will conduct home searches to combat tax evasion.
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The so-called Bitcoin Jesus was charged with tax evasion in April 2024, years after he renounced his US citizenship.
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Dubai deploys oil wealth and Islamic finance to challenge Asian crypto dominance, but Hong Kong’s liquidity firepower and Beijing backing maintain supremacy.
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India doesn’t “encourage or discourage” crypto, it “only taxes it,” Minister Piyush Goyal said, while unveiling a new RBI-backed digital currency project.
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The legislative proposal introduces a tiered tax system for energy used by crypto miners in New York, charged by kilowatt-hour used.
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Senate lawmakers debated whether cryptocurrencies should have special tax exemptions to encourage everyday use and the industry's growth.
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The US Senate Finance Committee is holding a hearing on Wednesday on crypto asset taxation, following the IRS’s release of relief guidance on the Biden-era CAMT tax.
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A Coinbase executive and three other crypto tax and policy specialists will meet with the Senate Finance Committee next Wednesday to discuss digital asset tax matters.
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What is India’s levy crypto tax, and how does it apply across various types of transactions, such as trading, selling or spending your crypto?
- News
The United Arab Emirates’ Ministry of Finance said the government will roll out the framework in 2027 and begin sharing information in 2028.
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