Following the launch of the updated draft of the 1099-DA crypto tax form by the US Internal Revenue Service (IRS), crypto traders and investors must report all transaction activities involving digital assets. The updated legislation, set to go into force in 2026,…
In its recent publication, the US Internal Revenue Service (IRS), in collaboration with tax regulators, unveiled a draft copy of the new Digital Asset Proceeds from Broker Transactions (Form 1099-DA). The new form will be used in 2025-2026 to report the income generated…
The newly elected president of Argentina, Javier Milei, has taken strategic action to eliminate some unimportant regulations. Based on the current situation in Argentina, President Milei confirmed that he will focus on meaningful projects that benefit the country. In a recent publication…
With the ongoing amendment of the digital assets regulation, the US has demonstrated the likelihood of shutting down the crypto sector. From the last bull run the policymakers enforced unfriendly regulations that forced high-profile crypto firms to exit the US market. Despite…
Following the intense efforts made by El Salvador to create a crypto-friendly state other countries such as Honduras have replicated the move to tap the endless benefits offered by digital assets. In an advanced report the Próspera, a special economic zone situated…
As Japan seeks to become a go-to destination for crypto firms, the regulators have agreed to loosen the regulation for digital assets. In a recent Cabinet meeting, policymakers agreed to remove the tax imposed on unrealized gains from crypto investments. An unrealized…
As the long pursuit to find the best successor for President Alberto Fernadez nears the end, several Argentine candidates have voiced their opinions on the practical measures to hedge the biting inflation. Speaking at the first presidential debate held on Sunday, October…
Bitwave, the leading developer of financial software in San Francisco, California, has revealed plans to acquire Gilded at an undisclosed amount. In a blog post, the Bitwave team announced that the mergers and acquisition (M&A) aims at strengthening enterprise solutions, including crypto…
The U.S. treasury and internal revenue service (IRS) have rolled out new rules for reporting crypto tax in the country. The new rules will require brokers and exchanges to report certain sales on crypto from bitcoin to NFTs to close the tax…
A bill granting exemption from capital gains taxes on the sale of digital currencies for foreigners has passed through a preliminary reading in Israel’s parliament on June 5. The bill also seeks to allot other tax benefits to foreign digital asset holders…
A US federal court has ordered top crypto exchange Kraken to turn over user information to the Internal Revenue Service (IRS). Kraken had earlier announced that it would settle charges brought against it by the United States Securities and Exchange Commission (SEC)….
The tax authorities in the UK will soon be granted power to seize Bitcoins held on crypto exchanges. The HM Revenue and Customs (HMRC) is proposing a legislation to this effect to seize the assets of crypto companies that fail to pay…
An official tweet from President Joe Biden revealed the famous MAGA House Republicans supported tax loopholes to benefit the wealthy crypto entrepreneurs in America. The President’s tweet was against the MAGA action that threatened the country’s food security investigations. The President’s May…
Many local news outlets in India reported that the community of the country is taking less interest in its digital rupee. As reported by the Hindu Business, the currency does not show any distinction from internet-based banking, and the consumers were in…
On November 21, the government of Kenya introduced changes to the Kenyan Capital Markets Law. The Kenyan government’s approach is to make sure that the taxation on cryptocurrencies is streamlined. The Amendments The amendments suggest that any individual or entity that is…
The unfortunate crypto investors can potentially claim their digital assets that were lost in an exploit in the form of a tax loss if they reside in the jurisdiction where laws permit for it. After the news that Solana’s 8,000 wallets had…
Everyone is pleased with the rising prices of Bitcoin. However, the BTC miners from Kazakhstan could shortly witness additional taxes in this respect. Once considered to be an alluring country for the miners migrating from China following the crackdowns started by the…
Indian Parliament goes forward with a new Bill, imposing a rough 30% Tax on Crypto-based profits. Massive Taxation on Crypto Trade As per the new legislation, a harsh 30% Tax has been applied on all crypto trading profits by the government of…
The NTS (National Tax Service) recently initiated a thorough tax investigation over Hashed – a venue for venture capital and blockchain – although the company’s CEO has refuted the allegations for being involved in the collection of slush fund or else the…
South Korea’s national tax enforcement agency (the NTS) intensifies efforts in clamping down on those who hide their income with digital assets to avoid paying tax. A Helping Hand A recent report by a local news outlet (the Korea Herald) revealed that…
