News
“Our main concern is that many taxpayers believe their cryptocurrency gains are tax-free or only taxable when the holdings are cashed back into Australian dollars,” said the ATO commissioner.
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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.
- News
Government officials waffling about the crypto tax that’s set to come into effect in 2022 has created a maelstrom of conflicting reports that even officials can’t seem to keep track of.
5279 - News
Korean lawmakers plan to impose taxes on NFTs after classifying them as virtual assets.
2586 - News
The Russian State Duma approved a bill on crypto taxation in early 2021, but the bill has yet to move any further.
5067 - Expert Take
New global carbon market rules with an NFT cap-and-trade platform emerge from the UN’s COP26 conference.
3980 - News
In addition to calling for greater regulation in the cryptocurrency industry, President Tokayez contemplated the introduction of a digital Kazakhstani tenge.
11312 - News
The bill proposes pushing back the mandated reporting requirements to 2026 as well as changing the definition of broker.
9408 - News
Despite the growing popularity of cryptocurrencies in India, lawmakers remain deeply divided on implementing a proper regulatory framework.
13611 - Breaking news
Crypto was absent from every speaker’s lips during the signing ceremony, with bipartisanship and jobs seeming to be the theme of the afternoon.
23689 - News
The infrastructure bill was first proposed by the Biden administration aimed at primarily improving the national transport network and internet coverage.
47614 - Expert Take
More crypto tax enforcement is coming, and many taxpayers are complying going forward, and amending prior returns if they have something to clean up.
14813 - News
Crypto capital is moving to Puerto Rico as tax regulations are much more favorable than in the United States.
5520 - Expert Take
U.S. regulators are looking at crypto-related areas, touching on financial regulation, economic innovation and national security.
10794 - News
Opposition lawmakers are seeking a one-year delay in the enactment of the law as well as a lowering of the tax burden on crypto traders.
3894 - Local News
The crypto tax will begin for South Koreans in 2022 but some industry observers say there is no cause for concern.
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