South Korean opposition set to tackle controversial crypto tax law
Opposition lawmakers are seeking a one-year delay in the enactment of the law as well as a lowering of the tax burden on crypto traders. Go to Source Powered by WPeMatico
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South African University Professor Urges Country to ‘Finalize Cryptocurrency Policy’ — Warns Against Resisting Crypto
A professor with the University of Johannesburg, Rabelani Dagada, has urged South Africa to finalize its cryptocurrency public policy if the country still wants to become a hub for digital currency innovation. History Will Repeat Itself In an opinion published by Itweb, Dagada warned South African authorities that the continued efforts to stifle cryptocurrencies will … Read more
South African Tax Body Updates Crypto Tax Guidance, Confusion Persists
In late August, the South African Revenue Service (SARS) released new guidelines that clarify the correct treatment of taxable crypto events. The new guidance, which was published on the revenue collector’s webpage, explains how cryptocurrency-related income should be disclosed in tax returns. Distinction Between Income and Capital Gains Tax As shown on SARS’ crypto-asset tax … Read more
Members of Congress lobby Nancy Pelosi and others to amend crypto tax definition
Anna Eshoo has urged the House to amend the language in the controversial infrastructure bill. Go to Source Powered by WPeMatico
Coinbase beats earnings estimates as analysts say regulation will ‘stifle’ innovation
COIN exceeded earnings estimates but analysts caution that blanket crypto-sector regulation will “stifle innovation” and possibly cast a shadow on Coinbase’s growth. Go to Source Powered by WPeMatico
Unchanged crypto tax bill will be put to a vote on Tuesday
Senate talks regarding the controversial crypto provisions to the U.S. infrastructure bill have ended without amendment, suggesting the original bill will be voted on come Tuesday. Go to Source Powered by WPeMatico
White House Backs Crypto Tax Amendment Endorsing Proof-of-Work in Infrastructure Bill
The White House has endorsed an amendment to the $1 trillion Infrastructure bill that supports proof-of-work over all other consensus mechanisms. However, the crypto community is supporting a different amendment. White House Takes Stance on Infrastructure Bill’s Crypto Tax Amendment The White House has endorsed an amendment to the Infrastructure bill sponsored by Senators Mark … Read more
GOP lawmakers want Bitcoin miners to be exempted from proposed crypto taxes
Republican members of Congress want assurances that Bitcoin miners and crypto software developers will not be subject to the newly proposed tax rules. Go to Source Powered by WPeMatico
US Senator Says Crypto Tax in Infrastructure Bill Is ‘Unworkable,’ Plans to Offer Amendment to Fix It
Several U.S. lawmakers have spoken up against the cryptocurrency tax provision in the $1 trillion infrastructure bill. While the bill has been revised from last week’s version, the text is still “unworkable,” according to Senator Pat Toomey. “I plan to offer an amendment to fix it.” Other lawmakers, including Sen. Ron Wyden, Rep. Warren Davidson, … Read more
Biden to Step Up Crypto Tax Enforcement to Help Fund $1 Trillion US Infrastructure Plan
U.S. President Joe Biden and lawmakers have agreed on the details of a roughly $1 trillion bipartisan infrastructure package with measures to step up tax enforcement around crypto assets. Taxing Crypto Transactions to Fund US Infrastructure Plan The White House announced Wednesday that President Joe Biden and a bipartisan group of lawmakers have agreed on … Read more
