Cryptocurrency Analysis and News Portal
Only last year, the IRS disclosed they had a meeting with four other states in an effort to partner to fight cross-border tax evasion stemming from digital currency users. Last week in the U.S., the IRS released the draft 2020 tax form, with a crypto tax question smack in the
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The new tool comes as the IRS is sending more letters to crypto investors. Source
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A hacker has stolen data on more than 1,000 users from CryptoTrader.Tax, an online service used to calculate and file taxes on cryptocurrency trades. The hacker broke into a CryptoTrader.Tax marketing and customer service employee’s account on a support center platform, according to a source who came across the hacker on
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South Korea will now tax profits made from buying and selling of cryptocurrency at 20% after the government agreed to the decision on Wednesday. The decision was reached after months of debate. According to a taxation policy amendment notice released July 22, the Ministry of Economy and Finance said
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The South Korean government has announced a 20% tax rate for income generated from cryptocurrency trading.Following a Tax Development Review Committee meeting on July 22, the Ministry of Economy and Finance published its revised tax code detailing the new rules. In a section headed, “Taxation on Virtual Asset Transaction Income,” the
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Crypto and taxes hardly go together like cream and sugar. Yet every crypto investor or business these days faces them. For many, starting with the United States Internal Revenue Service’s launch of the “it’s property, not currency” mantra in 2014, it has been six long years of trying to comply.
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Swiss firm, Accointing AG has cut a deal with Winheller law firm who specialise in crypto tax law. The strategic partnership can
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South Korean private sector members recently discussed a crypto-related taxation bill meant to establish capital gains tax for cryptocurrencies. During these discussions on July 13, members indicated crypto gains taxes could rise as high as 20%.Cryptocurrencies could be considered as “goods”Proposed amendments to existing laws also plan to classify cryptocurrencies
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The South Korean government recently announced their intention to impose a tax on cryptocurrency, leading to backlash. Korean Yonsei University economist, Sung Tae-yoon, warned that the decision to tax crypto capital gains may slow the technology’s emerging market, according to Koreatimes on June 21. Sung said that taxing the crypto market
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Bitcoin and blockchain technologies have long been vying for perceived legitimacy the world over. Since its advent in 2009, bitcoin has consistently proven itself as a
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