Denmark-based cryptocurrency users have begun receiving letters from the local tax agency requesting a full background of all their cryptocurrency transactions.
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.
- News
- News
Accounting advisor CPA.com and cryptocurrency accounting automation startup Lukka partnered to jointly launch a crypto asset tax preparation solution.
- News
South Korea's government plans to tax capital gains returns on cryptocurrency transactions.
- News
by Joeri Cant
Brazil’s tax authority has implemented a new tax code that fines taxpayers who fail to declare their Bitcoin and crypto transactions.
- News
by Helen Partz
Crypto mining is “purely technological progress,” a legislative analyst at a blockchain association in Kazakhstan says.
- Expert Take
Bitcoin traders can use Bitcoin price drops to reduce their tax liabilities.
- News
China, tax moves and liquidity squeeze may have served to present a lethal combination, suggests Gabor Gurbacs, as Bitcoin circles $7,000.
- News
by Helen Partz
Missouri-based software maker CryptoTrader.Tax has launched a new product facilitating cryptocurrency tax reporting.
- News
by Joeri Cant
The Excise Department in Thailand plans to change its current tax refund practice by introducing a blockchain-based tax payback system for oil exporters.
- News
by Helen Partz
The U.S. Deputy Treasury Secretary argued that decentralized privately-issued cryptos can shift some functions of the state to the private sector.
- News
by Helen Partz
The like-kind exchange tax exemption has never been applicable to crypto, an IRS official said.
- News
by Joeri Cant
The United Kingdom government tax agency has updated its cryptocurrency taxation guidelines for businesses and individuals.
- Analysis
Can the U.K. draw inspiration from the UAE and China to regulate cryptos instead of banning them? FCA decides.
- Local News
Cointelegraph auf Deutsch presents a weekly digest of selected cryptocurrency and blockchain-related developments from the German-speaking world.
- News
Bermuda became the first government to accept stablecoin USDC for tax payments, according to global financial services company Circle.
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