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.  

Opinion
Part 2 of this series continues to cover the legal implications associated with the sale of SAFTs and focuses on taxes related to tokens.
Legal Implications of Secondary SAFT Sales, Part 2
Guest Authors
2020-07-08T18:24:00+01:00
1617
News
Coinbase’s chief tax officer Lawrence Zlatkin says global customers are the future as non-U.S. jurisdictions are more open-minded.
Coinbase Exec Says Capital Will Flee US Due to Crypto Tax Laws
Helen Partz
2020-07-08T03:30:00+01:00
9147
News
The three-year old Common Reporting Standard is uncovering offshore assets on a massive scale, highlighting cryptocurrencies as a potential alternative.
Sun Sets on Offshore Banking as Assets Worth $11 Trillion Uncovered
Andrey Shevchenko
2020-07-02T17:33:00+01:00
2701
News
Switzerland does not need to amend its current tax legislation to cover blockchain-based arrangements, the Federal Council believes.
Switzerland Won’t Amend Tax Law in Regard to Blockchain in Near Future
Helen Partz
2020-06-29T18:56:00+01:00
5126
News
South Korea economist worries that tough regulation would slow down crypto’s growth.
South Korean Economist Warns New Tax Laws May Slow Down Crypto Market Growth
Ting Peng
2020-06-23T22:03:00+01:00
11126
News
A new crypto reporting app by the big four accounting firm EY will help clients with tax reporting as the IRS cracks down on tax evasion.
Tax Time: Ernst & Young Release Crypto Tax App
Joshua Mapperson
2020-06-19T06:20:00+01:00
3733
News
The US federal court sides with the IRS in a dispute involving crypto whales and unpaid taxes.
US Tax Court Says You Should Sell Your Crypto Savings If You Owe IRS
Stephen O'Neal
2020-06-17T17:40:00+01:00
2472
News
Although scant on details, South Korea’s finance minister has confirmed that taxes will be imposed on cryptocurrency in the country.
South Korea’s Finance Minister Confirms Plan to Tax Cryptocurrency
Jack Martin
2020-06-17T14:16:00+01:00
5625

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