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.  

The number of tax evasion cases featuring crypto assets rose 35% in 2022.
Average value of undeclared crypto in Japan dropped 19% in 2022
David Attlee
How to
Buy Bitcoin and Ether legally and securely in the U.K. and get insights on regulations, storage and investment options to make informed decisions.
How to buy Bitcoin and Ethereum in the UK
Liza Savenko
Australia’s tax regulator did not clarify whether investors must pay taxes on liquid staking or transfer to layer-2 bridges.
KyberSwap attacker used ‘infinite money glitch,’ Australia’s tax agency won’t clarify DeFi rules: Finance Redefined
Ezra Reguerra
Follow up
The Australian Taxation Office’s new rules on DeFi are unclear on whether capital gains taxes apply to liquid staking and transferring to layer-2 bridges.
Australia’s tax agency won’t clarify its confusing, ‘aggressive’ crypto rules
Brayden Lindrea
Delivering a major hit to Australian crypto investors, the ATO stated that wrapping or unwrapping tokens — irrespective of their price at the time — will be sub...
Australia to impose capital gains tax on wrapped cryptocurrency tokens
Arijit Sarkar
Even if approved by Nov. 17, the spot Bitcoin ETFs are unlikely to come to market for at least a month after approval.
First deadline window looms for SEC to approve Bitcoin ETFs: Law Decoded
David Attlee
The Blockchain Association claimed the U.S. Treasury overstepped its authority in proposing crypto tax rules difficult or impossible to follow by many in the sp...
Crypto advocacy group pushes back against proposed IRS rules on brokers
Turner Wright
The Crypto-Asset Reporting Framework is the new international standard for the automatic exchange of information between tax authorities.
47 countries pledge to authorize Crypto-Asset Reporting Framework by 2027
David Attlee

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