Cryptocurrency Analysis and News Portal
The president of the Stakeholders in Blockchain Technology Association of Nigeria (SIBAN), Obinna Iwunna, has commented on the implementation progress of the Finance Act, 2023, signed into law on May 28. According to Iwunna, the successful execution of the law will be challenging due to its premature introduction.The act introduces
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied On June 5, a bill proposing exemptions from capital gains taxes on the sale of digital currencies in Israel passed the preliminary reading in the country’s parliament, the Knesset. The bill offers extra tax advantages for people
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"Up until now, workers in the crypto industry had to pay double the tax on their options compared to workers in the traditional high-tech industry. Moreover, foreign investors in the blockchain industry were not entitled to the same benefits as those entitled to investors in the traditional high-tech industry," Illouz
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A federal court ordered crypto exchange Kraken to turn over account and transaction information to the Internal Revenue Service (IRS), which said it needed that information to see if any of the exchange's users had underreported their taxes.As per the order issued on Friday, June 30, Kraken is required to
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Slovakian lawmakers have passed legislation to regulate and reduce the tax rate on cryptocurrency income. Under the new law, crypto income from assets held for at least a year will be taxed at a favorable rate of
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The move is expected to attract crypto investors who had fled the country following the heavy burdens caused by taxations of unrealized profits. Undeniably, the cryptocurrency and blockchain markets have turned out to be a huge backbone for the development of economic growth prospects in many markets around the world. By
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The National Tax Agency in Japan recently revised a law on June 20, exempting token issuers from paying corporate taxes on unrealized cryptocurrency gains. This revision aims to ease the burden on crypto token issuers and
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Token issuers in Japan no longer have to pay corporate taxes on unrealized cryptocurrency gains, according to a law revision by the National Tax Agency on June 20. The tax exemption goes into effect nearly six months after the Japanese government approved a proposal eliminating the requirement for crypto firms to
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As cryptocurrencies and blockchain assets continue to grow in popularity and mainstream adoption, the United States Internal Revenue Service has taken an increasing interest in their taxation. In the U.S., cryptocurrency is subject to crypto tax and is classified as transactions instead of property or assets. Needless to say, failure to
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The Organization for Economic Cooperation and Development (OECD) has introduced a new tax framework specifically designed for crypto. OECD unveiled its Crypto-Asset Reporting Framework (CARF) at the end of a two-day ministerial-level meeting of its council
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