Analysis
The crypto industry in Japan is poised for a surge in growth among retail investors, observers say, as the government plans to introduce a moderate 20% tax.
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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.
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Cayman foundation registrations increase by 70% year-on-year as DAOs seek legal wrappers, with CARF rules set to arrive in 2026.
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Japan has taken another step to reform its crypto taxation, replacing its tiered system that can reach as high as 55%.
1737 - Analysis
Bitcoin’s price was down this month nearly 20% as markets worry about lower interest rates and a possible financial bubble in the AI industry.
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The UK has proposed a “no gain, no loss” approach to decentralized finance transactions, scrapping capital gains taxes on deposits to crypto lending platforms.
2432 - News
Switzerland will enshrine a global crypto tax sharing framework into law on Jan. 1, but will delay implementing it until at least 2027.
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Spain’s Sumar party reportedly wants to raise crypto taxes to 47%, classify all digital assets as seizable and introduce a “risk traffic light” system.
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Tax revenue denominated in Bitcoin would be funneled into the US strategic BTC reserve and would not trigger a taxable event for the payer.
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Brazil is reportedly considering imposing a tax on the use of cryptocurrency for international payments, as it aligns its rules with a global standard for sharing tax data.
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The White House is reviewing a proposal to join an international crypto tax standard that could deter Americans from moving their digital assets to offshore exchanges.
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Japan’s FSA plans to reclassify crypto as financial products, enforce new disclosure and insider trading rules, and cut the crypto tax rate from 55% to a flat 20%.
7524 - How to
Gifting Bitcoin isn’t taxable right away, but the IRS still has rules. Here’s how to stay compliant and prevent future tax problems.
5526 - 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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Lawmakers in France’s National Assembly have passed an amendment that would consider larger crypto holdings “unproductive wealth” and subject them to taxation.
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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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