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
"Our experience is that most people will follow all laws and regulations, and we will help those who invest in crypto to do it right," said Marius Johansen.
Norwegian authorities urge crypto users to declare earnings on upcoming return
Turner Wright
2021-04-21T20:45:00+01:00
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Expert Take
The recent John Doe summons developments indicate that the IRS is seriously interested in crypto — better to report than to be audited.
More IRS summonses for crypto exchange account holders
Robert W. Wood
2021-04-18T17:17:00+01:00
47052
Expert Take
What crypto owners should know if crypto accounts fall within the new Foreign Bank and Financial Accounts regulations.
The crypto FBAR: Implications beyond
Jason Morton
2021-04-17T16:17:00+01:00
11763
News
A new resolution would establish a task force to study crypto in Miami-Dade County's public administration.
Miami commissioner wants to let residents pay taxes in Bitcoin
Helen Partz
2021-04-15T14:41:10+01:00
8894
News
Consulting firms, such as PwC Russia, said that Russians have been increasingly reporting their income from cryptocurrency operations.
More Russians are disclosing their cryptocurrency incomes: Report
Helen Partz
2021-04-08T10:54:27+01:00
6252
News
Lukka said it planned to add additional features for customers dealing in derivatives, DeFi products, and other products of the crypto space.
Crypto-focused software firm Lukka raises $53M in funding round
Turner Wright
2021-03-26T08:30:24+00:00
4891
Analysis
There are ways in which a tax on the ultra-wealthy could nudge them toward crypto, but hiding assets is not one of them.
Would a US wealth tax push millionaires to Bitcoin adoption?
Kirill Bryanov
2021-03-18T17:21:00+00:00
12697
News
"If you exchange crypto for any other asset, you immediately recognize a capital gain or loss," said Robert Frank.
US-based crypto users likely still have to pay taxes on NFTs, says CNBC
Turner Wright
2021-03-17T17:15:00+00:00
7450

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