Russian Government Eyes $13 Billion in Taxes From Crypto Economy
Authorities in Moscow expect to collect more than $13 billion as tax payments from the Russian crypto market, according to a government document quoted by media. The estimate comes as…
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Kazakhstan Mulls Fivefold Increase of Electricity Tax on Crypto Mining
Authorities in Kazakhstan are discussing new regulations for the country’s crypto space that may lead to a serious increase in the tax burden on the mining business. Among the proposed…
Russians Mining Crypto to Pay at Least 15% Tax, Companies – No Less Than 6%, Lawmaker Says
Private individuals mining cryptocurrency may expect a higher tax burden than businesses involved in the industry, a high-ranking member of the Russian parliament has indicated. While the extraction of digital…
Venezuelan Government Approves New Tax for Cryptocurrency and Foreign Currency Transactions
The Venezuelan Government has approved a new tax that would affect transactions made in foreign currency and cryptocurrency transactions. Approved by the National Assembly of the country, the tax, called…
Colombian Tax Authority Tightens Control Over Cryptocurrency Usage
The DIAN, the Colombian tax authority, has announced it is taking special measures to tighten controls on taxpayers currently using cryptocurrencies to transact. With these actions, the organization seeks to…
India to introduce 30% crypto tax, digital rupee CBDC by 2022-23
Finance minister Nirmala Sitharaman believes the introduction of a CBDC will provide a “big boost” to India's digital economy.
IRS Special Agent on Crypto: ‘We See Mountains of Fraud in This Area’
A special agent with the Internal Revenue Service (IRS) says the tax agency is “seeing mountains and mountains of fraud” in the cryptocurrency space. The IRS criminal investigation unit is…
Indian Government Needs More Time to Finalize Crypto Bill: Report
Indian government officials reportedly said that India’s cryptocurrency bill will require more time because crypto is a complex subject. The bill is therefore unlikely to be introduced in the upcoming…
Main Opposition Candidate for President of South Korea Pledges Support for Crypto Tax Exemptions
The leading presidential candidate of the opposition in South Korea has promised voters to ease the tax burden on crypto-related profits through exemptions. In a recent statement, Yoon Suk-yeol indicated…
Ruling Party Sources Deny Plan to Levy 40% Tax on Crypto Yields in Turkey
The government in Turkey does not intend to impose a 40-percent levy on crypto-related gains as has been alleged, members of the ruling AKP party have indicated to the local…