Cryptocurrency Analysis and News Portal
Amid Colombia’s economic growth beat expectations in the second quarter, an official at the country’s tax and customs agency has hinted at some national digital currency plans.Luis Carlos Reyes, the head of the Colombian Tax and Customs National Authority, claimed that the government of newly inaugurated Colombian President Gustavo Petro
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The government of Colombia revealed it has plans to launch a digital currency. One of the purposes of this new currency would be to curb tax evasion and enhance the traceability of transactions made by citizens. The proposed measure would also be accompanied by restrictions on cash payments and transactions
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The Central District of California federal court entered an order Monday to authorize the United States Internal Revenue Service (IRS) to serve a John Doe summons on SFOX, a Los Angeles-based cryptocurrency prime dealer. The IRS filed suit to receive the order, which directs SFOX to reveal the identities of
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The court order, approved by a judge in the Central District of California, authorizes the IRS to serve the summons against SFOX, asking for information about any "U.S. taxpayers who conducted at least the equivalent of $20,000 in transactions in cryptocurrency between 2016 and 2021 with or through SFOX." SFOX
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The Internal Revenue Service (IRS) has modified the crypto question asked on Form 1040, the tax form used by all U.S. taxpayers to file an annual income tax return. New Crypto Tax Question The Internal Revenue Service (IRS) published a draft of Form 1040 for the 2022 tax year last week. Form
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The Japan Crypto-Asset Business Association (JCBA) and the Japan Crypto-Asset Exchange Association (JVCEA), the two prominent crypto advocacy groups in Japan, released a tax reform request that calls for lowering taxes for individual investors on crypto earnings. The fiscal 2023 tax reform request addressed key issues that the advocacy groups believe
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In a fresh twist to the collapsed bitcoin Ponzi scheme Mirror Trading International (MTI) saga, revenue collector South African Revenue Services (SARS) has demanded $55.3 million from the scheme’s liquidators. The revenue collector added that it wants the tax bill settled before the MTI liquidation process is finalized. Liquidators Failing
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The government announced its 2022 Tax Reform Bill on Thursday, which states the planned virtual asset tax, already delayed by a year, will be postponed further. Source
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The South Korean government has reportedly postponed the 20% tax crypto gains by two years. The controversial 20% tax on crypto gains was supposed to come into effect from January 1, 2023, but now has been deferred to 2025.The government officials announced their new tax reform plans on July 21,
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The Indian crypto landscape lost some momentum this year as the government introduced two laws demanding crippling taxes on crypto-related unrealized gains and transactions.India’s first crypto law, which requires its citizens to pay a 30% tax on unrealized crypto gains, came into effect on April 1. A commotion among the
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