Tax

Kyrgyzstan is Pressing on Cryptocurrency Miners with Electricity Prices
Oct 05, 2021 at 12:12
News
Kyrgyzstan is Pressing on Cryptocurrency Miners with Electricity Prices
Kyrgyzstan has increased electricity fees for cryptocurrency mining farms. This is the country's attempt to alleviate the energy crisis allegedly caused by the miners' high consumption.
US Senate Rejects Cryptocurrency Tax Amendment to the Infrastructure Bill: What's Next for the American Community?
Aug 11, 2021 at 12:12
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US Senate Rejects Cryptocurrency Tax Amendment to the Infrastructure Bill: What's Next for the American Community?
After some back and forth with senators, the cryptocurrency amendment (Wyden-Lummis-Toomey) has gone up in smoke in the Senate. What will crypto exchanges, miners and developers do now?
The Other Side of Legalization: Ukrainians Will Pay Taxes for Trading Cryptocurrencies
Aug 11, 2021 at 10:20
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The Other Side of Legalization: Ukrainians Will Pay Taxes for Trading Cryptocurrencies
The Ukrainian Ministry of Digital Transformation is making every effort to legalize cryptocurrencies in the country. For example, it is preparing the law on Digital Assets for the second reading on Verkhivna Rada. On the other hand, it is working on a framework that will allow taxing the income from trading cryptocurrencies.
Bitcoin Senators Are Shaking the White House, Wanting $1 Trillion Infrastructure Bill Amended to Favor Bitcoin Miners
Aug 06, 2021 at 11:31
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Bitcoin Senators Are Shaking the White House, Wanting $1 Trillion Infrastructure Bill Amended to Favor Bitcoin Miners
The largest infrastructure bill in US history has just been sent to the US Senate for consideration. However, the bill requires cryptocurrency miners, marked as "brokers," to pay a huge amount of tax, which Senator Cynthia Lummis and her colleagues questioned and immediately filed an amendment.
Joe Biden’s $6 Trillion Budget Might Prompt Rich Americans to Resort to Bitcoin
Jun 02, 2021 at 09:09
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Joe Biden’s $6 Trillion Budget Might Prompt Rich Americans to Resort to Bitcoin
Capitol Hill is at the moment heated over the historic $6 trillion budget for 2022 that new US President Joe Biden proposed. Although this would be the highest federal spending since World War II, it could drag more people into the crypto world.
Europe's Fintech Hub Will Not Tolerate Illegal Cryptocurrency Mining
Jun 01, 2021 at 11:03
News
Europe's Fintech Hub Will Not Tolerate Illegal Cryptocurrency Mining
The legality of cryptocurrencies varies from territory to territory. The UK especially leans towards crypto mining and trading as well as blockchain development but will get under the skin of illegal miners.
Governments Get Concerned Amidst Growing Tax Evasion; the USA is at the forefront
May 25, 2021 at 11:29
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Governments Get Concerned Amidst Growing Tax Evasion; the USA is at the forefront
Tax evasion using cryptocurrencies has increased the world over. Crypto asset spruikers tend to give false info about the income and capital gains tax liabilities so that they can cash in on buyer mania. Several countries are now looking for ways of reducing this vice that has cost the economy a lot.
African Migrants Turn to Cryptocurrency for Low Fee Remittance
May 04, 2021 at 12:31
News
African Migrants Turn to Cryptocurrency for Low Fee Remittance
Due to poverty and stringent economic conditions, hundreds of able Africans seek better employment opportunities in Europe and Asia. However, the high taxes and unfavourable monetary policies of many African countries make home remittance expensive. Migrant workers from the African continent are turning to cryptocurrency to affordably send money home.
South Korea Announces Testing of CBDC Right After Imposing a New Tax Framework; Is It a Coincidence?
May 02, 2021 at 11:54
News
South Korea Announces Testing of CBDC Right After Imposing a New Tax Framework; Is It a Coincidence?
Recently, the South Korean Finance Ministry announced imposing a 20% tax on cryptocurrency earnings. Curiously enough, the decision comes a couple of days before the announcement concerning the testing of the digital won. Is this a way to push people away from cryptos?
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