While most of the world is in a lockdown due to the COVID-19 pandemic, many people have lost their jobs or sources of income. While searching for a way to improve the situation, it is rather easy to fall victim to a fraudulent scheme.
US Tax body Internal Revenue Services (IRS) is demanding that American Citizens who hold cryptocurrency deposits in their wallets be taxed. The tax agency sent warning letters to more than 10,000 cryptocurrency holders over failure to pay appropriate taxes or falsifying taxable income.
Some tax experts in South Korea suggested that they first adopt low-level transaction taxes for the practical application of cryptocurrency taxation, and then gradually switch to applying capital gains tax. In the absence of a cryptocurrency-related bill, it is difficult to track all of the trading profits of investors, so it is reasonable to initially introduce a trading tax that proves only the existence of a transaction.
Andrew Yang, the Bitcoin supporter running for US president, dropped out of the presidential race with just nine months left until polling day. Yang who came into the limelight in 2017 after declaring his intentions to run for president is popular for supporting crypto especially bitcoin. Andrew cited small followers as the main reason for dropping out of the competitive upcoming elections.
Crypto "hodlers" just received a way to earn passive income from their cryptocurrency stakeholdings. DLease.io, a new Steem-based application, recently launched its professional-grade leasing platform, which allows STEEM token holders to earn additional coins through its peer-2-peer leasing program. With an average Annual Percentage Rate of double digits for the past 12 months in its closed community beta, the DLease app offers passive returns not common to the cryptocurrency industry.
Law 30/2019 amending the Fiscal Code became active on Sunday January 20, 2019 and introduces freshness to the system of Romania, viz. classifying the profits accumulated from Bitcoin (BTC), the flagship crypto and other cryptoassets as financial gain accruing over a given period of time from other sources.