Law Decoded: Tangible wins, new menaces and the global crypto taxation drive, Feb. 1–7
Crypto advocates celebrate wins, the Treasury and SEC seek to introduce crypto-unfriendly rules, and governments rush to levy digital asset taxes.
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Venezuelans reportedly hit by new Bitcoin tax of up to 20%
Bitcoin adoption has been on the rise in Venezuela in recent years amid hyperinflation and the national currency crisis.
Crypto Users and Exchanges Must Now Report Transactions in Colombia
The Colombian government has issued new regulations that force exchanges and individuals to report cryptocurrency transactions to the UIAF, the anti-money laundering watchdog in Colombia. The transactions must be reported…
60,000 Indians Petition Government to Lower Crypto Tax to Avoid ‘Devastating Impact’
Many Indians have signed a petition for the government to introduce reasonable crypto tax policies. This week, India’s finance minister, Nirmala Sitharaman, proposed taxing crypto income at 30%. Indians Sign…
Coinbase users can receive US tax refunds in crypto as part of TurboTax deal
The exchange said users could send the funds to their Coinbase accounts in fiat, or automatically convert it to crypto with no trading fees.
US lawmakers reintroduce bill to stop IRS from taxing crypto transactions under $200
House Representative Suzan DelBene, introducing the latest iteration of the bill, said the United States needs to "ensure that our tax code evolves with our use of virtual currency."
Thailand Relaxes Tax Rules for Crypto Investors, Scrapping 15% Withholding Tax
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…
Crypto tax doesn’t legalize trading, says Indian tax department chief
The Indian tax department head said crypto taxation will help the department evaluate the exact depth of the digital asset market.
Thailand scraps 15% crypto capital gains tax following public backlash
The Thai Revenue Department had initially intended to tighten oversight of cryptocurrency trading after seeing substantial market growth.
Crypto tax calculator CoinTracker valued at $1.3B following $100M raise
Crypto tax reporting was a contentious topic in the U.S. last year as Congress passed the Infrastructure Investment and Jobs Act.