Cryptocurrency Analysis and News Portal
Fresh data on Indian crypto exchanges' trading volume reveals a significant decline in trading practices among Indians just ten days after the tax rule implementation. India's new 30% crypto tax rule came into effect on April 1, despite many stakeholders and exchange operators warning against its ill effects. A research data
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"This has created a new benchmark. It can go further down or sideways, but it is unlikely to go back up. It is clear that the new tax has impacted the market negatively. The government must look into this, and because there is no way to stop this (crypto), the
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There are many different ways to earn crypto, including mining, airdrops, staking your coins or through earning interest. When you earn crypto in this way, you have ordinary income to report. The amount you report is the fair market value of the crypto you earned when you received it. You
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The proposed tax, which is part of the government's post-COVID recovery plan, would be due when virtual currencies are sold or exchanged, and would be set at an effective rate of just under 5%. The goal is to help “debureaucratize” and simplify the current system, and improve Slovenia's competitive position
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“It carries huge consequences for anyone engaging in mining or staking activities,” Dollar said. “If the IRS position is that it’s all taxable income at the time of creation, you’re currently taxed on any token rewards as they are earned before you dispose of them. Proponents of crypto take issue
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An Indian parliament member says crypto is like gambling and must be taxed at a very high rate, such as 50%. “We need to discourage and disincentivize” trading and investing in the asset class, he stressed. Indian Parliament Member Wants to Tax Crypto at 50% Indian parliament member Sushil Kumar Modi shared
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“We work in tandem with our partners to write concise and accurate tax-related content to be published on our partners’ platforms and serve their communities,” said Tzoneva, who joined the company in September from Google. “We have also partnered with various platforms to offer continuous professional education (CPE) courses for
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The crypto tax law enforces a 30% tax on profits from crypto transactions, effective April 1. Traders will not be able to set off losses from other crypto transactions. Crypto gifts within a family would be exempt, but gifts above Rs. 50,000 ($660) outside the family would be taxable once
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Coinbase Ventures, an investment arm of American crypto exchange Coinbase, shared a plan to invest $1 million in various Indian cryptocurrency and Web3 initiatives via an in-person pitching event. In a blog post drafted while he was in India, Coinbase CEO Brian Armstrong revealed that the venture firm intends to tap
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The Indonesian government has decided to tax capital gains income from crypto investments at 0.1% starting in May. In addition, value-added tax (VAT) of the same rate will be levied on crypto purchases. Indonesia to Start Taxing Crypto Income at 0.1% The Indonesian Directorate General of Taxes, the Ministry of Finance, has
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