Tax

Joe Biden’s $6 Trillion Budget Might Prompt Rich Americans to Resort to Bitcoin
Jun 02, 2021 at 09:09
News
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
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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?
American Tax Collector Netted in Cryptocurrency Corruption Scandal
Apr 03, 2021 at 10:32
News
American Tax Collector Netted in Cryptocurrency Corruption Scandal
A tax official from the US state of Florida has been indicted on corruption embezzlement charges involving cryptocurrencies.
Russia Change Taxation Limits for Cryptocurrency Transactions Amidst the Growth in Investment
Mar 17, 2021 at 15:23
News
Russia Change Taxation Limits for Cryptocurrency Transactions Amidst the Growth in Investment
Russian State Duma is planning on changing the taxation threshold for cryptocurrency transactions to cover more taxpayers dealing with digital assets. As the interest in the assets from investors grows, the government wants to make sure the crypto holders will not avoid taxation.
5 Countries That Offer the Most Favourable Environment for Cryptocurrency Businesses
Feb 10, 2021 at 14:31
News
5 Countries That Offer the Most Favourable Environment for Cryptocurrency Businesses
Amidst global digitization, the cryptocurrency industry is constantly growing. Some countries remain alerted to the industry, while others create favourable conditions to take advantage of it to boost their economy.
South Korea Supports Cryptocurrency Business by Postponing Tax Increase
Dec 01, 2020 at 13:59
News
South Korea Supports Cryptocurrency Business by Postponing Tax Increase
South Korea is known for its friendly stance on innovations including cryptocurrency. The country has even announced plans for releasing their own CDBC dubbed the digital won. However, they also show support to businesses dealing with other digital currencies.
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