Tag Archives: Taxation

The Austrian authorities will reportedly tax bitcoin and the altcoins with the same percentage rate as mainstream stock and bond investments starting from March next year. Bitcoin to Be Like a Stock Investment A recent Bloomberg report reads that Austria wants to create fairness between the different classes of assets and impose a 27.5% capital gains tax on all of them, regardless of being stock, bond, or cryptocurrency investments. The Finance Ministry commented: “We are...

The People Power Party – the opposition party in South Korea – has reportedly proposed a one-year delay on the upcoming taxation rules on trading with digital assets. The lawmakers also intend to revise the tax rate percentage suggesting that investors who generate profits of more than $42,000 should pay 20%, while the initial legislation taxes gains above $2,900. Not Ready for It According to the current propositions, South Korea will start taxing profits from trading with...

A few months after hinting that Miami residents could soon be able to pay their taxes with bitcoin, the city’s mayor – Francis Suarez – said the process has begun as his team will issue the request in October. Separately, Suarez also touched upon the most recent actions undertaken by the Chinese government, adding that the US could take advantage of this “huge mistake.” Miami Citizens to Pay Taxes in BTC? Being a BTC and ETH holder for a while, Francis Suarez has become one...

The ruling Democratic Party of South Korea intends to delay the upcoming taxation policy of digital assets. According to the officials, taxing bitcoin and altcoin investors still lacks proper infrastructure. Delaying The Crypto Taxation The Democratic Party of South Korea has objections in regards to the upcoming law that plans to start taxing gains made from cryptocurrency investments. According to a recent report, they have even passed a bill that could suspend the...

With the gargantuan $1 trillion U.S. infrastructure bill in parliamentary limbo, the fate of the crypto tax proposal tacked onto it remains in question. Meanwhile, the cryptocurrency industry is getting organized with a new sense of urgency to lobby and campaign. The Senate has passed the trillion-dollar bipartisan infrastructure package without an amendment hoped for by cryptocurrency industry stakeholders and blockchain-friendly delegates in Congress. But the fate of the...

Charles Hoskinson, Cardano’s founder and CEO of blockchain research company Input Output Hong Kong (IOHK), has urged the U.S. crypto community to rally against the recently proposed taxation policy. Hoskinson first took it to Twitter earlier this week, calling on digital asset proponents in the U.S. to rally in Washington DC to vent their grievances against the bill. This would be a bid to convince the country’s senators to amend the Internal Revenue Services (IRS) reporting...

The controversy surrounding the cryptocurrency taxation bill that might be passed in the United States has evoked a mixed reaction from crypto proponents. While the debate is still ongoing, Jack Dorsey, a popular Bitcoin advocate and CEO of the popular microblogging platform, Twitter, has recently shared his views on the matter. In a series of tweets today, Dorsey noted that it would be unreasonable to force these reporting rules as some firms may not have the capacity to...

The crypto community continues to rally the troops just hours ahead of the crucial vote on digital asset taxation from US Congress. This time, they have received support from one of the most influential people today – Elon Musk. CryptoPotato reported yesterday the controversy that arose from US authorities in regards to the country’s attempt to regulate and implement taxes on the digital asset industry. In shorts, Senators Mark Warner and Rob Portman proposed an amendment...

With new regulation and taxation on the cryptocurrency industry coming from the U.S., the situation just took another turn as President Joe Biden openly supported the highly unfavorable amendment proposed earlier by Senators Mark Warner and Rob Portman. Biden’s backing seems to target proof-of-stake assets, while mining appears untouched. Sitrep: Taxation and Regulation on Crypto in the U.S. The growth of the cryptocurrency sector pushed global watchdogs to strengthen their...

The American lawmakers proposed new cryptocurrency taxation that would raise nearly $28 billion in extra tax revenue. As part of it, digital asset investors in the US would have to report transactions that exceed $10,000 to the International Revenue Service. The Senate Aims to Collect More Taxes According to a recent Bloomberg report, the American government aims to implement stricter rules on companies and people dealing with digital assets. The proposed new taxation law...