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The escalating U.S. – China trade war threatens to have an adverse impact on the operations of Chinese mining equipment manufacturers, with imports of mining hardware now facing stateside tariffs of more than 25 percent. Also Read: Former CFTC Chair Advocates ‘Tech Neutral’ Cryptocurrency Regulations Harsh Hardware Duties In June, the Office of the United … Read more
A woman suing for 62,500 Canadian dollars ($48,125) sent to a phone scammer over a bitcoin ATM has lost her court case, local media reported. On Friday, Charlottetown Provincial Court chief judge Nancy Orr ruled that the fiat money deposited by the woman into the teller machine belonged to Instacoin ATM Canada Inc., owners of … Read more
A smart robber fleeces you with a pen and a handshake. From Zimbabwe to Kenya, Uganda to Benin, African governments are on a tax-raising spree, looking for easy money, ostensibly to help fund successive revenue shortfalls and budget deficits. Often, the money ends up being misappropriated by corrupt public officials. The best weapon in government … Read more
Chechnya will create a Eurasian crypto mining pool, the press secretary of the head of the Chechen Republic has reportedly confirmed. The project aims to combine the resources of crypto miners from the Eurasian Economic Union countries. Also read: 160 Crypto Exchanges Seek to Enter Japanese Market, Regulator Reveals Chechen Mining Pool Alvi Karimov, the press … Read more
On Wednesday September 19, a committee of US bureaucrats sent an open letter to the Internal Revenue Service (IRS) in regard to the way cryptocurrencies are taxed. The representatives’ letter directed towards IRS commissioner David Kautter wants the taxation office to publish provisional guidelines on how digital currency transactions and investments should be handled when US … Read more
In the absence of dedicated regulation, Ukrainians are expected to pay the regular 19.5% income tax rate on their profits from crypto-related activities like trading and mining, a high-ranking official from the Finance Ministry in Kiev explained. Crypto investors are free to report their digital funds as either property or financial assets. Also read: Uzbekistan … Read more
A Russian design studio has developed a “beautiful” cryptocurrency mining rig. The fashionable “Freer” is a modular, customizable home mining device. It comes in different colors, displays and sets of ports, depending on the requirements of the client. Meanwhile, members of the Russian crypto community have urged the government to classify individual miners as self-employed which … Read more
A new draft introducing amendments regarding the taxation of crypto incomes has been published in Poland. The bill differentiates between decentralized cryptocurrencies and centralized virtual money, and clarifies the tax regime applicable to crypto trading and mining. Also read: Eastern Europe: Regulation Postponed, Tax Abandoned, Banks Enlightened Draft Distinguishes Between Cryptos and Centralized Coins … Read more
Two Norwegian cryptocurrency miners have garnered national media attention after declaring taxable incomes of less than $20,000 USD despite having admitted to owning at least 34 bitcoins during December of last year. Also Read: GPU Manufacturing Giant Nvidia Leaves Crypto Mining Reported Incomes of Two Norwegian Crypto Miners Subject of National Scrutiny Twenty-two-year-old cryptocurrency miners from … Read more
The South African Revenue Service is working to improve the tracking of cryptocurrency traders and their transactions in order to verify if they are paying taxes. According to its Commissioner, the agency is exploring ways to better identify those that are profiting from trading digital assets and check if they are evading taxation. Also read: … Read more
