Four members of Congress — two Democrats and two Republicans — have proposed a bill designed to make the everyday use of digital assets more practical. Currently, consumers are required …
MoreTag: Taxes
10 members of the US Congress say current crypto tax rules can kill industry innovation
While the Infrastructure Investment Act has garnered accolades from several key players, the cryptocurrency ecosystem has kicked against a certain provision embedded within the law. A group of lawmakers voices …
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EU Country To Reduce Cryptocurrency Tax By 50% To Attract “Billions” To Its Budget
Hungary’s economy minister Mihály Varga announced Tuesday that the tax on cryptocurrency earnings would be slashed to 15 percent in 2022, which is roughly half of the current rate of 30.5 percent. The move is expected to attract billions of Hungarian forints to the …
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Hungary to plan Bitcoin (BTC) tax cut as part of economic recovery program
Cryptocurrency investors in Hungary could be getting a major tax break very soon, as lawmakers seek to make the central European country more competitive in the wake of the Covid-19 pandemic. In …
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Bitcoin To Fall Below $50,000: A Price Correction, or a Result of Biden’s Tax Proposal?
Bitcoin’s price has fallen to approximately $48,200. That’s Bitcoin’s lowest price since March 8 and a 33% drop from its all-time high of $64,445 on April 14. Other cryptocurrencies have …
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South Korea Tax Agency Suppresses Persons Hiding Assets Using Cryptocurrency
According to the Korea Herald on Monday (Mar. 15, 2021), the National Tax Service (NTS) clamped down on over 2,400 tax offenders who hid their assets using bitcoin and other cryptocurrencies to …
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Crypto.com is Launching a Tool to Simplify Crypto Taxes
Crypto.com has launched a free service it says reduces the complexity of filing cryptocurrency tax returns. In a blog post on Wednesday, the Hong Kong-headquartered exchange said its new tool provides …
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South Korea to finally set a hard date for the dawn of crypto taxation
South Korea will implement a 20% tax on Bitcoin (BTC) and cryptocurrency profits starting Jan. 1, 2022. The nation’s Ministry of Economy and Finance announced that profits made from both …
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