Wednesday, October 9, 2024
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Brazil Approves Proposed 15% Income Tax on Crypto Earnings Held on Foreign Exchanges

The move to regulate and tax cryptocurrencies held on foreign exchanges comes as digital assets are gaining popularity in Brazil. The Brazilian Senate recently gave the green light to a new tax reform aimed at imposing a 15% tax on cryptocurrencies held on foreign exchanges. The proposed bill on crypto income

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Spain enforces new crypto tax law for foreign asset declarations

Spain introduces a new crypto tax regulation requiring residents to declare their cryptocurrency holdings on foreign platforms by March 2024. Spain has introduced new tax regulations requiring residents to declare cryptocurrency holdings on foreign platforms. This directive was issued by the Spanish Tax Administration Agency, Agencia Tributaria, which has created a

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KyberSwap attacker used ‘infinite money glitch,’ Australia’s tax agency won’t clarify DeFi rules: Finance Redefined

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.The attacker who stole $46 million from the KyberSwap protocol has used a complex strategy described by a DeFi expert as an “infinite

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Australia’s tax agency won’t clarify its confusing, ‘aggressive’ crypto rules

Australia’s tax regulator has been unable to clarify confusing aspects of its new guidance that suggests capital gains tax (CGT) is payable on a slate of everyday decentralized finance transactions.The ATO failed to answer direct questions from Cryptox on whether staking Ether on Lido or transferring funds via bridges to

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What the IRS Gets Wrong About DeFi and Crypto in Its Latest Tax Reporting Proposal

The APA requires a reviewing court to set aside agency action that is “arbitrary, capricious, an abuse of discretion, or otherwise not in accordance with law,” “contrary to constitutional right,” “in excess of statutory jurisdiction,” or “unsupported by substantial evidence.” The proposal, if finalized, would fail each requirement. Source

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