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.  

Expert Take
Russia is taking the lead in issuing a multinational stablecoin backed by commodities with the Eurasian Economic Union, or EAEU, and BRICS countries.
Russia Leads Multinational Stablecoin Initiative
Selva Ozelli
2020-02-14T13:48:00+00:00
2112
News
Blockfolio users can now import their existing crypto portfolios into TokenTax’s automated software.
Blockfolio and TokenTax Join Forces to Make Taxes Easier
Turner Wright
2020-02-14T04:29:00+00:00
1890
News
Video game currencies have been stricken off an official IRS guidance as examples of virtual currencies, as the agency ups its scrutiny of crypto transactions.
IRS Does Not Consider Fortnite Money as Virtual Currency After All
Andrey Shevchenko
2020-02-13T13:32:00+00:00
3693
News
The Swiss municipality of Zermatt has rolled out a Bitcoin tax payment option in partnership with Bitcoin Suisse.
City of Zermatt Switzerland Now Accepts Tax Payments in Bitcoin
Helen Partz
2020-01-29T11:33:00+00:00
5040
News
Britain’s tax agency is inviting contract applications for a tech tool to help combat crypto tax evasion.
Britain’s Tax Agency Offering Contract for Tech to Combat Crypto Tax Evasion
Andrew Calderaro
2020-01-21T01:00:00+00:00
4840
News
The U.S. state of New Hampshire fails to pass its second bill to accept crypto for tax payments due to the high volatility of Bitcoin.
New Hampshire’s Second Bill to Accept Bitcoin as Tax Payment Fails
Helen Partz
2020-01-17T12:24:00+00:00
2233
News
US Congress sees another bill to free crypto spenders from a duty to report capital gains on crypto used in personal transactions.
Bill to Exempt Small Crypto Transactions From Taxes Returns to US Congress
Kollen Post
2020-01-16T17:31:00+00:00
5486
News
Bithumb has taken the South Korean National Tax Service to court over a multi-million dollar tax levy.
Bithumb Cryptocurrency Exchange Goes to Court Over $69M Tax Bill
Adrian Zmudzinski
2020-01-16T10:26:00+00:00
1454

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