Cryptocurrency Analysis and News Portal
A special council under Ukraine’s securities regulator will be tasked to develop rules for crypto taxation in the country. The new body will be also responsible for coordinating the regulation of various crypto activities and adjustments to the applicable legislation. Advisory Board to Take On Matters Related to Cryptocurrency Taxation
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What Will It Look Like When Taxation and Privacy Collide? Source
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Okay, first things first. The basics. Creating (a.k.a. minting) an NFT is not a taxable event. If you create an NFT (a 1:1 or a 10K-strong collection) and no one buys it or trades it, you will not be taxed. So you can rest assured that your decision to tokenize
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Various tax positions are being taken and therefore shown to the Internal Revenue Service on tax returns filed over the last few years, an indication the market is coming to a consensus on how certain digital assets and transactions should be categorized and taxed. Whether the IRS will agree with
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Even though the legality of crypto in India is still a matter of debate, new crypto tax laws are already affecting businesses and individuals. Source
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The Central Bank of Russia supports the development of digital financial assets but remains opposed to legalizing crypto payments, its top management has reiterated. The monetary authority is now working on a set of regulatory proposals that will be submitted to parliament by the end of the year. Russia’s Central Bank
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The Indian government has maintained a bullish stance on its income tax on crypto assets. The government demonstrated this with the proposal
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Members of the European Parliament have called for “effective taxation” of crypto assets and “better use of blockchain” to counteract tax evasion. A resolution aiming to achieve both objectives has been approved by a large majority which also wants small crypto traders to enjoy a simpler tax regime. European Parliament Adopts
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Members of European Parliament (MEPs) voted in favor of a resolution that called for the use of blockchain technology to fight tax evasion and urged member states to coordinate more on the taxing of crypto assets, according to a Tuesday press release. See related article: How will the crypto tax debate
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Global cryptocurrency taxation rules significantly vary among countries, and some jurisdictions have come up with extremely tough crypto tax policies for their residents.In a new study by crypto analytics firm Coincub, Belgium is referred to as the worst country in the world in terms of crypto taxation for residents. That
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