Cryptocurrency Analysis and News Portal
ConsenSys, the company behind the crypto wallet MetaMask has hosed down rumors that it collects taxes from cryptocurrency users. The company informed its 270,000 Twitter followers on May 22, that the rumors were based on ”inaccurate information” drawn from a misreading of MetaMask’s Terms of Service. We are aware of
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Cryptocurrency investment product provider Grayscale Investments has refused to provide on-chain proof of reserves or wallet addresses to show the underlying assets of its digital currency products citing “security concerns.”In a Nov. 18 Twitter thread addressing investor concerns, Grayscale laid out information regarding the security and storage of its crypto
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Thailand has relaxed tax rules for cryptocurrency investors, scrapping its planned 15% withholding tax. “The revenue department did a lot of homework and reached out to crypto operators as well to get feedback … It is much more friendly to both investors and the industry,” said the CEO of a
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Thailand has axed plans to levy a 15% withholding tax on cryptocurrency transactions following pushback from the country's crypto traders.Earned income on crypto trading or mining can be reported as capital gains on income taxes, tax officials said on Monday, according to a Financial Times report. The new rules would
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In a report published on Friday, Reuters laid out the findings of its investigation into the regulatory compliance practices of Binance, the world’s largest cryptocurrency exchange by trading volume.The authors suggest the existence of a recurring pattern whereby the company’s CEO Changpeng Zhao, while proclaiming its openness to government oversight,
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Global professional services firm Ernst & Young (EY) continues exploring the potential of blockchain technology to improve taxation processes with a new initiative.The company announced Wednesday that EY completed a blockchain-based project to address complexities and inefficiencies in the cross-border withholding tax (WHT) process, generally a paper-based process where data
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