Bookmarking Crypto Insights
Auto Added by WPeMatico
Coinbase CEO Brian Armstrong wants to scrap income taxes entirely, dumping the 150,000-page tax code and shifting the chaos to businesses. Coinbase’s CEO Challenges America’s Tax Code Chaos With Controversial Idea Brian Armstrong, CEO of cryptocurrency exchange Coinbase (Nasdaq: COIN), has proposed a sweeping change to the U.S. tax system, calling for the elimination of … Read more
The Kenyan government collected $77.5 million tax revenue from cryptocurrency traders in the last fiscal year. Kenya Seeks $465 Million in Crypto Taxes The Kenyan government collected $77.5 million (10 billion shillings) in taxes from cryptocurrency traders during the 2023-24 financial year, Anthony Mwaura, head of the Kenya Revenue Authority (KRA), recently disclosed. Mwaura, speaking … Read more
Crypto rewards received before an account freeze are taxable in the year they’re received, even if holders can’t access their funds later, the IRS says. IRS Clarifies Tax Rules for Digital Assets in Locked Accounts The Internal Revenue Service (IRS) issued a memorandum in October, addressing the tax obligations of digital asset rewards in accounts … Read more
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news from the past week. In this issue, Brazil declares the necessity of creating a BRICS-centric financial system, President Javier Milei axes the tax collection agency in Argentina, and crypto volumes spike in Brazil. Brazil Calls for Unified BRICS Financial System, … Read more
The Dutch government wants to align its data collection rules for crypto service providers with the rest of the EU, saying it would “create more transparency.” Go to Source
Mayor Ward Roddam of Rockdale, Texas, sees bitcoin mining as the key to his town’s resurgence after the devastating closure of its largest employer, Alcoa. Comparing it to Texas’ oil boom, Roddam highlights how this modern technology is creating jobs, boosting revenue, and funding essential services. With over $1 billion in investments, bitcoin mining could … Read more
Christian Angermayer, a billionaire crypto investor, has reportedly moved from London to Switzerland as the UK considers tightening tax policies on offshore wealth. Angermayer’s relocation signals the potential departure of other wealthy individuals fearing future tax hikes on non-domiciled tax arrangements. Crypto Investor Angermayer Leaves London Over Tax Concerns Billionaire crypto investor Christian Angermayer has … Read more
Turkey has decided not to move forward with a new tax targeting stock market and cryptocurrency gains, according to Vice President Cevdet Yilmaz. While previously discussed, the plan has been dropped, with the government focusing instead on reducing tax exemptions. This shift follows concerns about the stock market and broader efforts to stabilize the economy … Read more
A bitcoin investor has pleaded guilty to underreporting his cryptocurrency gains, including $3.7 million from BTC sales, resulting in a tax loss to the Internal Revenue Service (IRS) of over $550,000. The Department of Justice emphasized that taxpayers must accurately report crypto transactions to the IRS. The bitcoin investor now faces up to three years … Read more
International Monetary Fund (IMF) economists have warned of the environmental impact of crypto mining and AI data centers, which are projected to increase global electricity consumption to 3.5% by 2027, leading to higher carbon emissions. Proposing a targeted electricity tax, the authors estimate a potential reduction in emissions by 100 million tons annually, while generating … Read more
