Bermuda became the first government to accept stablecoin USDC for tax payments, according to global financial services company Circle.
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
- Expert Take
The IRS is hunting crypto user identities. If you are audited, should you hire a professional or do it yourself?
- News
by Joeri Cant
The U.S. IRS will ask taxpayers whether they received, sold, sent or exchanged any financial interest in cryptocurrencies in 2019.
- News
by Helen Partz
Encrypted messaging service Telegram has published the terms of service for its native cryptocurrency wallet Grams Wallet.
- Investigation
by Aaron Wood
The CEO of crypto firm Grupo Bitcoin Banco, which froze clients’ funds in May, disclosed owning 25K Bitcoin.
- News
H&R Block has begun providing consultations on how to properly file cryptocurrency gains and losses on tax returns.
- Expert Take
Some in the crypto community have embraced Puerto Rico. Could it be the country for you?
- News
by Joeri Cant
The Canada Revenue Agency is auditing the corporate tax returns filed by QuadrigaCX, the now-defunct Canadian cryptocurrency exchange.
- Expert Take
The IRS is using unreliable tax forms received from cryptocurrency exchanges to come after traders.
- News
France will tax when cryptocurrencies are sold for fiat currency, but won’t tax crypto-only trades, said French economy minister Bruno Le Maire.
- News
A Californian politician has become the first elected official to use cryptocurrency to purchase cannabis in the U.S. to advocate for cannabis tax remittances v...
- News
by Joeri Cant
Cryptocurrency miners in Iran will be eligible for a tax exemption if they agree to repatriate their overseas earnings.
- Expert Take
“Willful” vs. “non-willful” tax flubs with crypto transactions have huge consequences with the IRS.
- News
by Helen Partz
The Portuguese Tax and Customs Authority clarified that there is no income tax on Bitcoin and cryptocurrency in the country.
- How to crypto
The United States tax collecting and legislation authority, the Internal Revenue Service, sends a new round of letters to cryptocurrency holders.
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