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
Taxation
Auto Added 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
New R&D tax rules could mean a US exodus for crypto companies
A change to R&D tax rules means that a tech company could lose more than $1 million — but still be on the hook for hundreds of thousands in taxes. Go to Source Powered by WPeMatico
Bitcoin Profits Deemed Taxable by Denmark’s Supreme Court
Profits from the sale of cryptocurrencies like bitcoin are taxable, according to two rulings by the Supreme Court of Denmark. The verdicts in the cases, which involve crypto purchases and payments as well as income received from bitcoin mining, uphold decisions of lower courts. Denmark’s High Court Considers Crypto Gains Taxable Under Current Law Profits … Read more
Tax Benefits for Bitcoin Businesses in Belarus Extended Until 2025
Tax exemptions for companies and individuals legally working with cryptocurrencies in Belarus will remain in place until Jan. 1, 2025. A new presidential decree extends the tax cuts introduced in 2018 when the executive power in Minsk legalized crypto activities such as mining and trading. Belarus to Maintain Its Crypto-Friendly Tax Regime for Another 2 … Read more
French Authorities Raid 5 Major Banks Over Accusations of Money Laundering and Fiscal Fraud
On Tuesday, French officials conducted raids on five major banks located in and around Paris, including Societe Generale, BNP Paribas, HSBC, Natixis, and BNP’s Exane Bank, over alleged charges of money laundering and fiscal fraud. According to a spokesperson for France’s Financial Prosecutor’s Office (PNF), the preliminary investigation into four French banks and one international … Read more
Staking gains shouldn’t be taxed until they’re sold
We don’t tax houses while they’re under construction, and we shouldn’t impose taxes on cryptocurrency while it’s staked. Go to Source Powered by WPeMatico
What is fiscal policy, and why does it matter?
Fiscal policy shapes economies through government spending, taxation and borrowing. Go to Source Powered by WPeMatico
Russian Crypto Industry Queries Government About Proposed Criminal Liability for Miners
The organization representing Russia’s crypto sector has asked the government in Moscow to clarify a proposal to introduce criminal liability for “gray” miners. The draft legislation seeks to punish those who fail to report their income to the state and share information about their digital assets. Crypto Companies in Russia Want to Take Part in … Read more
Revised Bill Suggests Prison Time for Russian Crypto Miners Evading Taxation
A draft law designed to regulate crypto mining in Russia introduces harsh penalties for miners failing to report digital assets to the state. In its latest revision, the bill also threatens to punish those who organize illegal trading of cryptocurrencies with imprisonment and hefty fines. Forced Labor Awaits Miners and Traders Who Operate Outside Law, … Read more
