News with the tag "cryptocurrency tax"

Trump Memecoin and Tax Implications: FinTax Warns of Future Challenges The launch of Donald Trump’s memecoins , including TRUMP , has sparked widespread interest in the cryptocurrency world. However, according to a report by cryptocurrency tax platform FinTax , these tokens could encounter tax-relat...

The reporting requirements present a “real risk of pushing users toward decentralized platforms,” according to industry insiders.

Hong Kong plans to exempt crypto tax for private equity funds, hedge funds, and other investment vehicles for high-net individuals (HNIs). This move comes as it seeks to attract foreign capital and establish itself as a finance and cryptocurrency hub in the Asia region. Interestingly, this announcem...

Korean Lawmaker Advocates for Cryptocurrency Tax Implementation in 2025 Jin Seong-jun Urges Timely Cryptocurrency Taxation Jin Seong-jun, Chairman of the Democratic Party Policy Committee in South Korea, has strongly advocated for the implementation of a cryptocurrency tax starting in 2025. Speaking...

Italy has caused a bustle across the global crypto sector on Wednesday, raising tax orbiting virtual assets. In an unprecedented mover, President Georgia Meloni-headed country recently announced plans to increase capital gain tax on Bitcoin and cryptocurrencies to 42%. This significant hike, overflo...

Currently gains on crypto profits are going untaxed and unrecognized by the Greek government - but not for long as regulators are seeking new taxes on the industry early next year.

Malaysia’s Inland Revenue Board (IRB), in collaboration with the Royal Malaysia Police and Cybersecurity Malaysia (CSM), recently launched a special operation codenamed “Ops Token” to tackle tax revenue losses from cryptocurrency trading. The initiative, involving 38 personnel, was executed across 1...

Brazil is on the verge of presenting a new crypto taxation scheme proposed in a bill to be presented to the National Congress in the coming days. The bill proposes taxing cryptocurrencies the same way as shares and capital instruments with fluctuating exchange rates, instead of categorizing them as ...

Cryptocurrency taxation and reporting transactions on your balance sheet differ. Here’s how to treat cryptocurrency on your balance sheet.

Members of the U.S. Congress have expressed concerns about the possible problems that implementing the newly proposed crypto tax reporting requirements could create in the entire industry. Patrick McHenry, Cynthia Lummis, and others reacted differently to the potential effects of these proposals on ...