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As cryptocurrencies increasingly fall under the purview of global tax authorities, digital bank Revolut has integrated an automated tax reporting service for its users.The digital financial services provider has partnered with cryptocurrency tax solution Koinly to allow users to generate cryptocurrency tax reports to work out gains and losses. Revolut
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Regulators around the world have cast their eyes on DeFi, and policymakers have "highlighted specific risks including cyber risks and other technical risks, as well as increased dependencies between traditional and decentralized financial systems and a lack of backstops in periods of market stress," HMRC said. Original Source
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Betterment LLC has accepted the $9 million penalty U.S. Securities and Exchange Commission issued for misstatements, poor record-keeping, and disclosure practices. Betterment LLC is a cash management and robo-advising establishment holding over $34 billion in assets in management
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Failing to utilize tax loss harvesting is one of the biggest mistakes people make on their tax returns, according to Danny Talwar, the head of tax at crypto tax software firm Koinly.Speaking to Cryptox ahead of the April 18 United States tax deadline, Talwar said that for those investors who
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Sweden is doing away with tax incentives for data centers come July 2023. This decision could affect bitcoin (BTC) miners who had turned to the Nordic country to increase their profitability. Sweden is eliminating tax incentives for
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Based on the average electricity prices last year, the tax hike could bring the all-in energy cost to $0.093/kWh, said Jaran Mellerud, senior analyst at mining services firm Luxor Technologies. A MicroBT Whatsminer M30s, a moderately efficient and commonly used machine, would be at break-even point given current market conditions,
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Chinese authorities have fined leading crypto mining hardware manufacturer Bitmain for tax-related violations, local media reported. The penalty comes amid increasing tax checks in the digital asset sector, according to information from the crypto community. Bitmain Fined for Failing to Pay Income Tax on Behalf of Employees One of the world’s largest
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The State Tax Administration Agency of the Government of Spain (AEAT) increases its efforts to charge the local holders of crypto assets. The AEAT intends to dispatch 328,000 warning notices to those who should pay their taxes on crypto for the 2022 fiscal year. As the local newspaper El Mundo reported
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The Chinese tax authority claim Bitmain was issued with a tax violations notice in August last year but has withheld paying individual tax income of about $2.4 million. Bitmain Technologies Ltd., a Beijing-based company that is well known for designing application-specific integrated circuit (ASIC) chips used in Bitcoin mining, has reportedly
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Beijing-based cryptocurrency mining firm Bitmain has reportedly violated tax regulations in China, with local authorities imposing major fines.Bitmain Technologies has been slapped with a tax penalty from the Beijing Municipal Office of the State Administration of Taxation, the local news agency Sina Finance reported on April 11.The authority fined Bitmain
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