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On the eve of his departure from office on May 28, former Nigerian President Muhammadu Buhari signed the Finance Act, 2023, into law. The act introduces a series of tax reforms aimed at modernizing the country’s fiscal framework. Among its provisions was the introduction of a 10% tax on gains from the
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IRS official Julie Foerster said in April during CryptoX's Consensus event that she could not say when the agency planned to update and clarify the guidance, and that it was looking into other ways of communicating with the industry so that taxpayers can voluntarily comply with the reporting requirement. Source
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Bitcoin (BTC) miners in the United States can breathe a sigh of relief after a proposed tax on crypto mining did not make it into a bill to raise the U.S. debt ceiling that appears set to pass.The Digital Assets Mining Energy (DAME) excise tax proposal sought to charge crypto
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A proposal to enable protocol fees for the Uniswap (UNI) decentralized exchange failed on June 1, potentially allowing liquidity providers to continue to earn all revenue from swaps, according to the proposal’s official webpage. It narrowly missed being passed, with 45.32% of votes going to the “no fee” camp and
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The crypto sector appears to have dodged another bullet. At the time of publication, the United States has reached a political agreement to raise its debt ceiling, avoiding a calamitous default on its obligations, and this resolution probably won’t include any new taxes on cryptocurrencies. But that doesn’t mean the question
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied A tentative deal aimed at averting a US government default on its debts has relieved cryptocurrency miners, particularly bitcoin (BTC) ones. Ohio Representative Warren Davidson has revealed that the proposed agreement includes removing a controversial tax on
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The recent US debt ceiling deal has struck out the previous crypto tax bill proposed by the Biden administration. Congressman Warren Davidson has confirmed that the recent US debt ceiling deal blocks a potentially pivotal crypto tax bill proposed by the Biden administration. Davidson’s confirmation came as a response to a tweet by Bitcoin advocate and Riot
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied MetaMask, a popular Ethereum native non-custodial wallet, has updated its terms of use and now has the right to “withhold taxes where required”. This change in their service is why the cryptocurrency community on Reddit is beginning to question ConsenSys’
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied In response to the Biden administration’s proposed crypto mining tax, Bit Digital has strategically moved a significant portion of its mining machines to Iceland and Canada while keeping the majority within the United States. The company’s decision
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Russia’s tax administration is going to be tasked with overseeing the crypto industry in the country, a high-ranking government official has indicated. According to the regulatory concept that’s currently under consideration, the revenue service will also serve as an entry point for market participants. Russians to Report Crypto Holdings and
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