Governments are increasingly liquidating crypto assets seized in criminal investigations.
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.
The director of the OECD’s tax center has revealed that the organization expects to release a tax reporting standard for crypto assets by the end of next year.12740
Russia’s prime minister proposed recognizing crypto as property under the nation’s tax code.14234
Intuit, which also owns TurboTax, is not allowed to control all consumer tax software, says DoJ.6699
Following lobbying by the Korean Blockchain Association, crypto exchanges have extra time to implement a new tax infrastructure.4792
The Lithuanian State Tax Inspectorate exchanged Bitcoin, Ether and Monero for 6.4 million euro.15193
The level of freedoms that the U.S. has provides an argument for the country as the most crypto-friendly location, although Puerto Rico also has its benefits.23800
Once an IRS investigation or audit is opened, it’s too late to make amends, warn tax lawyers.11978
The United States tax authority doesn't seem to be very efficient when it comes to tracking down who owes crypto taxes — for now.31377
Tax season is confusing, especially when it comes to crypto.17400
TaxBit’s tool will allow Gemini customers to increase their tax refund.4870
U.S. capital gains tax laws are likely to catch out many new users of PayPal's cryptocurrency payments system13105
Does an extortion attempt from Russian hackers explain Schiff's hatred for Bitcoin?16671
The Korea Blockchain Association wants the government to postpone the implementation of its new tax framework until 2023.4585
Spain’s new anti-tax fraud bill includes crypto implications.7149