Russian gov’t approves new crypto taxation framework
The Russian Federation Council’s approval of the new crypto taxation regime comes amid Bitcoin hitting all-time highs against Russia’s national currency, the ruble. Go to Source
Taxation
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Crypto thrives in India despite ‘discouraging’ taxes — Local community
India’s crypto community has shown resilience to harsh taxation requirements, with its crypto ecosystem gaining momentum, although not at its full potential. Go to Source
Italy to raise capital gains tax on Bitcoin from 26% to 42%
In addition to raising the withholding tax on Bitcoin capital gains to 42%, Italy also plans to remove the 750,000 euro web tax threshold. Go to Source
Japan’s Financial Services Agency Includes Crypto in 2025 Tax Proposal
The Financial Services Agency has released its tax reform requests for fiscal year 2025, highlighting the need to consider the tax treatment of virtual currency transactions as financial assets. This marks the first time virtual currencies are mentioned in such requests. Industry groups have long called for changes to the tax system for virtual currencies, … Read more
South Korea Considers Deferring Crypto Taxation Until 2028
The ruling party of South Korea is, once again, considering the postponement of the enactment of crypto-specific taxes, as this could influence public opinion towards the government. The party aims to implement these taxation rules by 2028, citing a lack of necessary regulations and institutional infrastructure as the primary reasons for this measure. South Korea … Read more
Major Party in South Korea Proposes to Defer Cryptocurrency Taxation
The People Power Party, a major political party in South Korea, has proposed to defer cryptocurrency taxation for up to two years as part of a general election pledge. The Korean government has already postponed establishing cryptocurrency taxation until 2025 when income generated from cryptocurrencies will be taxed at 22%. South Korea to Delay Cryptocurrency … Read more
Russian Companies ‘Actively’ Using Crypto, Russia to Adopt 4 Relevant Laws, Official Says
Russian lawmakers intend to soon approve four bills designed to regulate various aspects of cryptocurrencies, a high-ranking member of the Russian parliament announced. Meanwhile, Russian companies are already using digital assets in cross-border settlements, the official noted. Russian Legislature to Vote on Crypto Laws by End of July The State Duma, the lower house of … Read more
Crypto Miners Pay Kazakhstan $7 Million in Taxes Amid Uncertain Future for Sector
The government of Kazakhstan has collected over $7 million in taxes this and last year from enterprises mining cryptocurrency in the country. The news comes amid growing regulatory pressure that is limiting the industry’s access to low-cost energy while increasing its tax burden. Miners Face Higher Expenses, More Challenges Under New Legislation Kazakhstan’s coffers have … Read more
UK Treasury seeks input on taxing DeFi staking and lending
The proposed regulatory changes seek to simplify how DeFi returns are taxed and reduce the “administrative burden” for taxpayers. Go to Source Powered by WPeMatico
China Fines Bitmain $3.6 Million for Tax Violations, Report
Chinese authorities have fined leading crypto mining hardware manufacturer Bitmain for tax-related violations, local media reported. The penalty comes amid increasing tax checks in the digital asset sector, according to information from the crypto community. Bitmain Fined for Failing to Pay Income Tax on Behalf of Employees One of the world’s largest producers of devices … Read more
