As the cryptocurrency industry rejoices over the long-awaited approval of Bitcoin spot exchange-traded funds (ETFs), investors must understand how the IRS will tax these products.
JinseFinanceThe Japanese National Tax Agency (NTA) reveals an increase in crypto tax violations, with 548 cases identified out of 615 inquiries in the fiscal year 2022. Although the average undeclared income per case dropped to $206,000, the cumulative value rose to $126.5 million, prompting calls for tax system reforms in Japan amid criticisms of the current structure's impact on firms holding coins.
JixuThe ATO's recent guidance on DeFi transactions and potential CGT has created confusion among Australian users. The lack of clarity, coupled with delays in legislative guidance, adds complexity to tax implications, hindering DeFi activities.
Huang BoU.S. lawmakers, led by McHenry and Torres, challenge proposed digital-assets taxation, citing concerns over the broad 'Broker' definition impacting the digital asset community.
Hui XinAlthough this practice would imply that the Chinese government may have finally recognized the legal status of cryptocurrencies, the reality is more complex.
FinboldThe reasons behind CPPI's abandonment of crypto research were not immediately clear.
OthersHostile App Store rules won’t let crypto developers build
BanklessAccording to Katja Hessel, German Parliamentary State Secretary, crypto traders can get tax exemption benefits on the sale of digital ...
BitcoinistGermany’s Finance Ministry has released new cryptocurrency tax guidelines with no tax payable on gains from BTC and ETH sold 12 months after acquisition.
CointelegraphAccording to PieDun Twitter, Beanstalk Farms, an algorithmic stablecoin project, was hacked and lost more than $80 million, including 24,830 ETH and 36 million BEAN.
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