Taxes

Crypto Tax Guidelines Leave More Questions Than Answers

<header class=”article__header”> </header> <strong>Cryptocurrency holders have long wrestled with their tax obligations. These fiduciary duties have been complicated by tax agencies, which are several steps behind technology and now playing crypto catch-up. Updated guidelines from the U.S. and U.K.’s tax agencies were finally released this year, but the initial relief felt by conscientious bitcoiners was …

Crypto Tax Guidelines Leave More Questions Than Answers Read More »

Britain’s Tax Authority Updates Crypto Guidelines

</header> <strong>Her Majesty’s Revenue and Customs (HMRC) has updated its guidelines on the taxation of transactions involving crypto assets. The United Kingdom’s tax authority clarifies its stance on cryptocurrencies and explains which taxes apply to specific activities carried out by business entities and private individuals. </strong> Also read: Bad Loans at Big British Banks Jump …

Britain’s Tax Authority Updates Crypto Guidelines Read More »

The Future of Cryptocurrencies in the UK Hangs on FCA’s Decision

Since the days of the British Empire, the United Kingdom has been one of the world’s largest and most influential economic powerhouses. Even though its financial control over the world has substantially decreased, the country is still one of the most culturally relevant regions in the world, especially when it comes to the adoption of …

The Future of Cryptocurrencies in the UK Hangs on FCA’s Decision Read More »

Crypto and Blockchain News From German-Speaking World: Oct. 20-26

The German-speaking world has seen an array of crypto and blockchain-related developments over the past week, with the Federal Ministry of Finance concluding that cryptocurrencies are hardly involved in money laundering and terrorist financing (TF), Bitwala integrating a feature for automatically generating cryptocurrency tax reports, and  the Graz startup Lab10 Collective developing a more energy-efficient …

Crypto and Blockchain News From German-Speaking World: Oct. 20-26 Read More »

Tax Form to Report Revenues From Cryptocurrency Trading Issued in Poland

</header> <strong>Authorities in Poland have clarified the taxation of revenues received from cryptocurrency exchange transactions. The Ministry of Finance has recently published a 2019 tax form that has a dedicated section where taxpayers are expected to declare separately proceeds from crypto trading. </strong> Also read: Mario Draghi Leaves European Central Bank Without Ever Raising Interest …

Tax Form to Report Revenues From Cryptocurrency Trading Issued in Poland Read More »

Bermuda Becomes First Gov’t to Accept Tax Payments in USDC Stablecoin

Global financial services company Circle announced that Bermuda became the first government to accept its stablecoin USD Coin (USDC) for tax payments. Part of a broader government initiative to embrace stablecoins According to a press release shared with Cointelegraph on Oct. 16, this development is part of a broader initiative, which sees the Bermuda government …

Bermuda Becomes First Gov’t to Accept Tax Payments in USDC Stablecoin Read More »

Tax Guide: What Crypto Owners Should Know

<header class=”article__header”> </header> <strong>With the rise in price and the growing adoption of cryptocurrencies, more governments worldwide have been ramping up efforts to tax them. Some countries are using extreme measures to get their hands on this new source of untapped revenue, but there are also tax-friendly countries that are not taxing crypto transactions. Furthermore, …

Tax Guide: What Crypto Owners Should Know Read More »

IRS to Require 150 Million Tax Filers to Disclose Crypto Dealings

<header class=”article__header”> </header> <strong>The U.S. Internal Revenue Service (IRS) has unveiled a new draft tax form used by some 150 million people in the country to file tax returns. It has a section that requires them to answer whether they have received, sold, sent, exchanged, or acquired any financial interest in any cryptocurrencies during the …

IRS to Require 150 Million Tax Filers to Disclose Crypto Dealings Read More »

US IRS Makes Change to Standard Questions in Regards to Cryptocurrencies

The United States Internal Revenue Service (IRS) has added a question on crypto ownership to the standard 1040 income tax form for the coming tax season. IRS wants to know about your crypto in 2019 On Oct. 11, a draft of the “Additional Income and Adjustments to Income” section of the new 1040 form surfaced …

US IRS Makes Change to Standard Questions in Regards to Cryptocurrencies Read More »

Turkish Government Freezes Over 3 Million Bank Accounts

</header> <strong>Hundreds of thousands of businesses and individuals with tax obligations to the Turkish state have received foreclosure notices this week informing them about their frozen bank accounts. The government of Turkey, which is struggling with financial and economic problems under geopolitical pressure, is likely to push even more of its citizens towards cryptocurrencies with …

Turkish Government Freezes Over 3 Million Bank Accounts Read More »