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
The taxman still isn't wise to cryptocurrency earnings made through proof-of-stake. But that could change soon.
US Library of Congress report highlights proof-of-stake tax blindspot
Greg Thomson
2021-02-04T14:26:38+00:00
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News
Authorities in South Africa are warning investors to be wary of scams amid the current crypto bull market.
South African regulators issue fresh crypto investment warning
Osato Avan-Nomayo
2021-02-04T12:27:56+00:00
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News
Filing 2020 taxes may be slightly less complicated for Coinbase users than it was before.
Coinbase users can now report their crypto taxes using CoinTracker
Turner Wright
2021-01-15T18:00:00+00:00
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News
Crypto transactions in Kenya now attract a 1.5% tax.
Kenyan crypto firms on notice as digital tax law takes effect
Osato Avan-Nomayo
2021-01-08T09:33:36+00:00
12064
News
After several delays, the South Korean government is going ahead with a plan to tax cryptocurrency holders.
South Korea to introduce a 20% tax on crypto trading profits in 2023
Andrey Shevchenko
2021-01-07T13:45:33+00:00
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News
Coinbase Ventures, PayPal Ventures and Winkelvoss Capital have all invested in cryptocurrency tax automation software provider TaxBit.
US crypto firms invest in tax solutions as IRS updates reporting forms
Marie Huillet
2021-01-07T12:38:06+00:00
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News
A former top investigator is warning that the IRS might be shifting crypto tax payment enforcement into high gear
IRS to transition from ‘education to enforcement,’ says former division chief
Andrew Thurman
2021-01-03T18:48:25+00:00
16865
News
India’s government could levy taxes on Bitcoin trading despite the lack of legal clarity for the country’s crypto space.
India ponders Bitcoin tax law to target $5B market
Osato Avan-Nomayo
2020-12-29T10:59:30+00:00
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