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Rumors have surfaced about potential crypto tax reforms as Donald Trump’s official memecoin, TRUMP, hits $71 billion in fully diluted value and rises to the 15th-largest crypto in the world. Go to Source
Some in the crypto community assumed the IRS was backpedaling on reporting requirements, but all requirements are still firmly in place, the agency simply announced a grace period for exchanges to upgrade their technology. IRS Grants Crypto Exchanges More Time to Implement Platform Upgrades Confusion ran rampant on Thursday after several publications posted ambiguous headlines … Read more
India has recovered $14 million in goods and services tax from crypto firms like WazirX, but Binance has yet to pay its $85 million tax evasion liabilities, the minister said. Go to Source
They tried once in 2018, but the State Board of Deposits “failed” to show any enthusiasm. Go to Source
The U.S. Department of the Treasury and the IRS have released final regulations for tax reporting on digital asset sales, as part of the Biden-Harris administration’s implementation of the Infrastructure Investment and Jobs Act. Additionally, the Treasury and the IRS revealed that they anticipate issuing further rules later this year to establish reporting requirements for … Read more
South African crypto traders have reportedly started receiving notices from the South African Revenue Service (SARS) indicating that their tax affairs are under review. The revenue collector is gathering information from various crypto-asset exchanges to assess compliance. Traders who fail to provide requested information could face criminal charges under the Tax Administration Act. SARS may … Read more
The U.S. Internal Revenue Service (IRS) has released a draft tax Form 1099-DA for reporting digital asset proceeds from broker transactions. Brokers, including unhosted wallet providers, are required to report proceeds from digital asset dispositions to the IRS. A crypto tax expert has highlighted that the collection of certain data points, such as wallet addresses, … Read more
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Paraguayan lawmakers introduce a bill to ban cryptocurrency mining, Brazil to change crypto taxation framework, and a poll finds that Latam believes CBDCs might help combat corruption in the region. Paraguayan Lawmakers Introduce … Read more
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Nayib Bukele wins the presidential elections in El Salvador, the Brazilian tax authority finds over 25,000 irregularities in crypto tax statements, and Argentine President Javier Milei warns there will be no dollarization this … Read more
Bitcoin was once viewed as a means to opt out of violent, legacy financial systems. Now, it is being co-opted by the very same, and zealous newcomers to crypto think that’s a good thing, while still giving lip service to peer-to-peer values. Ignoring the problems with fiat money, they beg political interests and bad actors … Read more
