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
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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
Russia Approves Crypto Tax Law, Redefining Digital Currency Rules
Russia’s new crypto tax law classifies digital currencies as property, exempts mining from VAT, and mandates detailed reporting, signaling a seismic shift in regulation. Russia’s New Crypto Tax Rules Signal a Major Shift in Digital Currency Regulations The Federation Council, Russia’s upper house of parliament, approved a government-initiated bill outlining the taxation framework for digital … Read more
Flat Tax Frenzy: Americans Debate Tax Code Overhaul on X
Conversations about adopting a flat tax in the United States are lighting up the social media platform X. 16 Million Words Too Many? Department of Government Efficiency Sparks Flat Tax Debate The debate hit a fever pitch after the Department of Government Efficiency (DOGE), spearheaded by prominent names Elon Musk and Vivek Ramaswamy, floated the … Read more
Australia Seeks Public Input on Crypto Tax Reporting
The Australian Treasury has invited public feedback on implementing the Organization for Economic Cooperation and Development (OECD)’s crypto asset reporting model. Tackling Crypto-Linked Tax Evasion The Australian Treasury has invited the public to comment on options for the country’s implementation of the Crypto Asset Reporting Framework (CARF). In a consultation paper released Nov. 21, the … Read more
Coinbase CEO Advocates Ending Individual Income Tax Entirely, Shifting Burden to Businesses
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
US gov’t job could allow Elon Musk to defer capital gains tax
The ‘DOGE’ department proposed by Elon Musk could allow the Tesla CEO to divest many of his assets and defer paying taxes. Go to Source
Italy scales back plans to hike crypto tax rate: Report
A Bloomberg report suggested Italian Prime Minister Giorgia Meloni could accept a proposal for a 28% tax hike on crypto rather than a 42% one. Go to Source
Kenya Collects Over $77M in Taxes From 384 Crypto Traders
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
IRS: Frozen Crypto Rewards Taxable Despite Account Lockdowns
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
