New tax rules for crypto in the US: Law Decoded
The United States Internal Revenue Service has released proposed regulations on the sale and exchange of digital assets by brokers.
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IRS releases draft of proposed reporting rules for digital asset brokers
House Financial Service Committee chair Patrick McHenry said the rules are part of “the Biden Administration’s ongoing attack on the digital asset ecosystem.”
South Korean city to seize crypto from thousands of tax evaders: Report
City authorities of Cheongju are looking to seize cryptocurrency from anyone who owes at least $750 in crypto taxes to the government.
Coin Center responds to US lawmakers’ request for crypto tax guidance
The crypto advocacy group’s suggestions included a de minimis exemption for crypto transactions and having the IRS provide guidance on block rewards, airdrops and hard forks.
Brazil’s Congress moves to levy higher taxes on cryptocurrencies
If approved, the legislation would place crypto assets held by Brazilians overseas subject to the same tax rules governing traditional assets.
Ukrainian government reports $81M tax loss from unregulated crypto exchanges since 2013
A crypto bill signed into law in 2022 paved the way for the Ukrainian government to amend its tax code, but local exchanges still largely operate outside this framework.
Japan Blockchain Association demands tax cuts for crypto
Advocates of the crypto industry in Japan demand the revision of the national tax regime for digital assets.
Thodex CEO sentenced to Turkish prison for failure to submit tax documents
Faruk Fatih Özer failed to submit the requested documents to the Tax Inspection Board. He denied being Thodex’s official at the time, which prevented him from presenting the requested books.
Kraken ordered by court to disclose user data to IRS for tax compliance
Kraken is required to provide details of users who engaged in transactions exceeding $20,000 within a calendar year.
Slovakian parliament votes in approval of lower crypto taxes
A parliamentary vote held by officials in Slovakia approved an amendment that will reduce the taxation of cryptocurrencies, which is currently on a sliding scale.
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