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.  

Follow up
Governments are increasingly liquidating crypto assets seized in criminal investigations.
Exchanges outdo auctions for governments cashing in criminal crypto, says exec
Helen Partz
2020-11-27T11:24:18+00:00
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News
The director of the OECD’s tax center has revealed that the organization expects to release a tax reporting standard for crypto assets by the end of next year.
OECD tax director says international crypto tax standards are coming in 2021
Samuel Haig
2020-11-27T03:47:38+00:00
12849
News
Russia’s prime minister proposed recognizing crypto as property under the nation’s tax code.
Russian prime minister proposes legal steps to bring order to crypto market
Helen Partz
2020-11-26T13:35:08+00:00
14259
News
Intuit, which also owns TurboTax, is not allowed to control all consumer tax software, says DoJ.
DoJ makes fintech giant sell Credit Karma's tax wing to Square before $7.1B acquisition
Kollen Post
2020-11-25T17:37:10+00:00
6715
News
Following lobbying by the Korean Blockchain Association, crypto exchanges have extra time to implement a new tax infrastructure.
South Korean government to delay crypto tax rules by three months
Jack Martin
2020-11-25T10:37:12+00:00
4796
News
The Lithuanian State Tax Inspectorate exchanged Bitcoin, Ether and Monero for 6.4 million euro.
Lithuanian tax service’s first confiscated crypto sale nets $7.6M
Helen Partz
2020-11-24T14:16:47+00:00
15203
Analysis
The level of freedoms that the U.S. has provides an argument for the country as the most crypto-friendly location, although Puerto Rico also has its benefits.
Friendliest of them all? These could be the best places for crypto
Benjamin Pirus
2020-11-23T00:32:00+00:00
23819
News
Once an IRS investigation or audit is opened, it’s too late to make amends, warn tax lawyers.
U.S. law firm says IRS is coming after Coinbase users who evade taxes
Marie Huillet
2020-11-11T12:19:18+00:00
11985

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