The Internal Revenue Service (IRS) has obtained court authorization to serve a John Doe summons on cryptocurrency exchange Kraken. The tax agency is seeking data of users with $20,000 or more in cryptocurrency transactions during the years 2016 to 2020. IRS Wants User Information From Crypto Exchanges The U.S. Department of Justice (DOJ) announced Wednesday […]
Crypto miners will be able to deduct electricity costs as business expenses when filing cryptocurrency taxes starting in 2022.
Opponents of the government’s plan to tax gains from cryptocurrency trading outnumber supporters among South Koreans in their 20s, a new survey shows. Representatives of other age groups are more open to the proposed taxation of investments in virtual assets. Nearly Half of Young Koreans Reject Tax on Crypto Profits According to the poll, a […]
The City of Seoul becomes the first city in South Korea to confiscate cryptocurrencies owned by tax delinquents.
Local firm Bitcoin Suisse has partnered with the canton of Zug, converting cryptocurrency tax payments into Swiss francs.
The bill proposes to recognise cryptocurrency as property for purposes of taxation.
If passed the bill would amend tax laws to recognize digital currencies as a form of property.
The South African Revenue Service is likely “ensnaring” non-compliant taxpayers, a tax consultancy said in a news report.
Out of 31 nations, only 5 have tax guidance addressing cryptocurrency rewards via staking, a study found.
Bitcoin’s price is going down for many reasons including traders who realized gains last year selling to pay their tax bills.