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Less than a year after Bitqyck’s 2016 ICO, Bise and Mendez began promoting a new coin, BitqyM, that was said to power bitcoin mining operations in Washington state. Bise and Mendez admitted in plea papers that no such operations ever existed, and they had unsuccessfully tried to contract a third-party
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South Korea’s opposition People Power Party is preparing a proposal to delay the implementation of the country’s crypto tax legislation, as well as adjust the level at which taxes would kick in, according to a report in the Korea Herald.The bill would delay the legislation coming into effect from the
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Lawmakers belonging to South Korea’s opposition People Power Party have prepared a fresh challenge to the planned crypto tax law.According to The Korea Herald, opposition lawmakers are advocating for a one-year extension to the start of crypto taxation in the country.As previously reported by Cointelegraph, South Korea’s crypto tax regime
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South Korean Finance Minister and Deputy Prime Minister Hong Nam-ki said his country is moving ahead with its plan to tax gains on cryptocurrency trading starting in 2022, according to a report in The Korea Times.The policy, which will levy a 20% tax on crypto gains of over 2.5 million
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This episode is sponsored by NYDIG.Download this episodeOn this edition of “The Breakdown’s Weekly Recap,” NLW looks at:Hidden crypto tax provision 6050IChilling language from British lawmakers around using CBDCs to control citizens’ spendingThe Compound political gaffeSee also: Compound Founder Says $80M Bug Presents ‘Moral Dilemma’ for DeFi Users“The Breakdown” is
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Lawmakers in South Korea settled a long political battle on Thursday and headed off moves by the ruling party to delay the implementation of the controversial crypto tax legislation. In a meeting on Tuesday but only reported on Thursday, Finance Minister Hong Nam-ki and key Democratic lawmakers from the National Assembly,
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The Internal Revenue Service (IRS) continues to propose new tax reforms to regulate the crypto investments in the United States, with the latest notice sharing tax obligations for the marijuana industry.The notice, signed by IRS Commissioner De Lon Harris, reflects the priorities of the United States federal agency to ensure
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South Korea’s Minister of Strategy and Finance, Hong Nam-Ki has vowed that the controversial crypto tax code will come into effect on January 1st, 2022 despite moves this week by the majority Democratic Party to postpone it to 2023.The tax code will levy a 20% tax on income generated by
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Noh Woong-rae, a member of South Korea’s National Assembly and a representative of the country’s ruling party, reportedly plans to postpone a bill clarifying the taxation of crypto until 2023.According to a Thursday report from Naver News, Noh said the Democratic Party of Korea plans to push back against the
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Democrats in the U.S. House of Representatives have proposed tax initiatives to fund a $3.5 trillion spending package which could potentially affect crypto users. According to a document released by the House Committee on Ways and Means on Monday, the proposal would increase the tax rate on long-term capital gains from
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