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.  

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.
South Korean opposition set to tackle controversial crypto tax law
Osato Avan-Nomayo
Local News
The crypto tax will begin for South Koreans in 2022 but some industry observers say there is no cause for concern.
South Korean crypto tax delay thwarted
Brian Newar
Hinging on Democrats' ability to resolve intraparty disagreements, the controversial legislation could have tangible consequences for digital finance in the U.S...
The infrastructure bill is hanging in the balance. What would its enactment mean for crypto?
Kirill Bryanov
The IRS’ commissioner says crypto gains are taxable in the cannabis industry as the IRS treats cryptocurrencies as property.
Crypto tax ‘a top enforcement priority,’ reminds IRS Commissioner
Arijit Sarkar
Expert Take
A green post-COVID-10 recovery in accordance with the United Nations’ 17 Sustainable Development Goals is possible with blockchain and NFTs.
Charitable sustainable NFTs for the United Nations’ 17 SDGs
Selva Ozelli
The Boston Blockchain Association has published crypto regulatory advisory guidelines for lawmakers in Massachusetts to consider.
BBA pushes for crypto regulatory clarity in Massachusetts
Osato Avan-Nomayo
“In a situation where the relevant taxation infrastructure is not sufficiently established, the deferral of taxation on virtual assets is not an option, but an ...
South Korean lawmaker: Delaying tax laws on crypto is 'inevitable'
Turner Wright
If passed, the plan would raise the capital gains tax rate for "certain high income individuals" to 28.8%, while eliminating the "wash sale" loophole for crypto...
US lawmakers propose adding digital assets to 'wash sale' rule and raising capital gains tax
Turner Wright

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