Hong Kong Seeks Crypto Hub Status With Tax Breaks

Hong Kong is proposing tax breaks for hedge funds, private equity funds, and wealthy individuals investing in cryptocurrencies. Hong Kong and Singapore Vie for Top Financial Hub Spot Hong Kong authorities have reportedly proposed exempting hedge funds, private equity funds, and wealthy individuals from paying taxes on gains from cryptocurrencies. The proposals, aimed at making … Read more

Russia Approves Crypto Tax Law, Redefining Digital Currency Rules

Russia’s new crypto tax law classifies digital currencies as property, exempts mining from VAT, and mandates detailed reporting, signaling a seismic shift in regulation. Russia’s New Crypto Tax Rules Signal a Major Shift in Digital Currency Regulations The Federation Council, Russia’s upper house of parliament, approved a government-initiated bill outlining the taxation framework for digital … Read more

Denmark Unveils Crypto Tax Plan, Recommendations Draw Fire From Bitcoiners

The Danish Tax Council has recommended what it terms non-backed crypto assets like Bitcoin be taxed similarly to asset-based crypto assets. The council argues the recommendations would allow crypto investors to deduct losses from gains thus making taxation more fair. However, some observers believe this amounts to a “declaration of war on crypto” as it … Read more

Kenya’s Crypto Landscape Set for Major Overhaul With New Tax System

The Kenyan Revenue Authority (KRA) is tightening its grip on cryptocurrency by proposing a real-time tax system integrated with exchanges. This system would track all crypto transactions, capturing details like time and value for tax collection purposes. Beyond real-time taxation, Kenya is considering AI and machine learning to combat tax evasion. These technologies would improve … Read more

South Africa’s Tax Agency Adds Crypto to Compliance Programs

The South African Revenue Service (SARS) has announced plans to include crypto assets in its tax compliance programs. SARS is seeking information on crypto users and is increasing its efforts to identify and audit non-compliant taxpayers. The revenue collector urged taxpayers concerned about compliance to participate in the Voluntary Disclosure Program, but those already under … Read more