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A number of United States lawmakers have urged the Internal Revenue Service and the Treasury to speed up the closure of tax loopholes being exploited by “crypto tax evaders.”In an Aug. 1 letter, Democratic Senators Elizabeth Warren, Bernie Sanders, Bob Casey and Richard Blumenthal warned the top officials of both
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According to data provided by the Ukrainian government, cryptocurrency exchanges offering services in the country have failed to contribute more than $81 million to the national budget in the last decade.In an Aug. 2 notice, the Economic Security Bureau of Ukraine reported unrelated crypto exchanges were responsible for at least
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Advocates of the crypto industry in Japan demand the revision of the national tax regime for digital assets. Japan Blockchain Association (JBA), a non-governmental lobbying group, filed an official request to the country’s government, highlighting three major steps to ease up the fiscal burden on crypto holders. The request was published
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The Japan Blockchain Association (JBA) has reportedly requested Prime Minister Fumio Kishida to revise the nation’s tax system concerning crypto assets. The JBA has put forward three main changes to promote the expansion of the crypto industry and make
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Oral arguments began on July 26 for an appeals case on a complaint a Tennessee couple filed against the United States Internal Revenue Service (IRS) on calculating their taxes based on earnings from staking tokens. Joshua and Jessica Jarrett received a refund check from the IRS in 2021 after filing a
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Kennedy also reiterated a May stance defending the right to self-custody bitcoin, run blockchain nodes at home and promising industry-neutral energy regulation. Source
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Three months after Faruk Fatih Özer — the founder and former CEO of Thodex — was detained in Türkiye, he received a prison sentence of seven months and 15 days for failing to submit documents requested during the trial.Thodex was once one of the biggest crypto exchanges in Türkiye before
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Prosecutors from the United States and agents from the Internal Revenue Service (IRS) are reportedly investigating wealthy crypto traders and fund managers suspected of illegally benefiting from Puerto Rico’s tax breaks. According to a June 12 report from Bloomberg, investigators are currently building civil and criminal cases against a number of
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United States Senate Financial Services Committee Chair Ron Wyden and ranking member Mike Crapo released an open letter to the digital asset community on July 11 asking for input on the taxation of digital assets. The senators are looking for solutions to highly complex taxation issues, so much so that
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Tax management is an essential component that can have a big impact on your overall savings and investment results. The implementation of efficient tax planning tactics is crucial, regardless of whether you are involved in conventional financial markets or are looking at prospects in the cryptocurrency field. This article will discuss
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