Cryptocurrency Analysis and News Portal
The Internal Revenue Service (IRS) has won a case in which it demanded that a Maryland couple liquidate their bitcoin to pay-off a $1.1 million tax debt.Alexander and Laura Strashny proposed to the IRS to pay their 2017 tax liability, generated from non-crypto activities, in installments over a six-year
Read More
A loophole in the U.S. tax law could allow qualified bitcoin traders to write off unlimited losses from their trading activities, according to an expert from crypto tax platform Coin Tracker.Traders, defined by U.S tax collection agency Internal Revenue Service (IRS) as people who trade substantially, regularly and continuously,
Read More
[sociallocker id="55298"] Japan’s finance minister Taro Aso says he is opposed to reducing tax on bitcoin income to 20%, on par with stock dividends, arguing that most Japanese households find it difficult to invest in digital assets.The development suggests that Japan will uphold its current definition of cryptocurrency as
Read More
[sociallocker id="55298"] Finance Minister Taro Aso suggested he was unwilling to push for lowering the tax rate on cryptocurrencies in Japan to a flat 20% because it’s difficult for many households to invest in digital assets.Aso was responding to a question from Japan Restoration Association member Shun Otokita at a
Read More
As world governments push through legislation to levy taxes on capital gains from bitcoin (BTC) transactions, seeking to earn more from an asset class that frowns on regulatory oversight, there are still a few countries that remain pro-crypto, allowing investors to buy, sell or hold digital assets at zero
Read More
The time of paying taxes is coming and crypto traders will not stand aside. Here is the summary of the main details that you need to know for the tax filing.We are already into the fifth month of 2020. And the taxation has been delayed due to the COVID-19 pandemic.
Read More
Research from Latin American crypto exchange Buda has highlighted a patchwork of laws, confused regulations and unusual concepts governing crypto taxation in the region.Buda has provided a series of tax guidelines outlining measures crypto traders should take into consideration when looking to comply with the authorities in Chile, Colombia, Peru,
Read More
On April 28, the legislative assembly of the Cayman Islands gazetted five new pieces of legislation governing crypto businesses — especially exchanges. How the new legislation would change the Cayman Islands’ crypto industryThe Virtual Asset Service Provider Bill would establish definitions and registration requirements for companies providing crypto services including exchanges,
Read More
Many investments these days seem volatile, but there are few asset classes that have been as volatile as crypto. If you have losses, you might have trouble claiming them, offsetting gains or reducing your income. In fact, asking if you have tax losses or even expecting some sounds like a
Read More
The Inland Revenue Authority of Singapore, or IRAS, issued updated tax guidance for digital tokens on April 17. The guidelines concern payment tokens, utility tokens, security tokens, and tokens issued through initial coin offerings, or ICOs.Fluctuations in the value tokens held by miners, ICO issuers, businesses, and individuals are not
Read More