India’s tax authorities have uncovered nearly 630 crore rupees (approximately $72 million) in undisclosed income from crypto-related transactions, according to an Aug. 5 disclosure by Pankaj Chaudhary, the Minister of State for Finance. The minister, citing figures from the Central Board of Direct Taxes (CBDT), stated that the numbers reflect discrepancies in tax filings tied […]
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Greenidge Generation has agreed to sell its Mississippi bitcoin mining facility, just a year after the site became operational.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Sellers using exchanges located in the country will have to pay a 0.21% tax on the transaction value, up from 0.1%, Reuters said.
Indonesia is expected to implement new crypto tax rules starting Aug. 1, raising the tax rate on transaction values for sellers.
Current U.S. IRS rules state individuals must report cryptocurrency transactions regardless if they result in a capital gain or loss.
Ver owes an estimated $48 million to the IRS related to his bitcoin sales and faces a possible sentence of 109 years.
The official repeal ends the years-long saga surrounding the tax update proposal, which aimed to improve financial transparency but sparked privacy concerns.
The House Ways and Means Committee is set on July 16 to examine how to set up proper taxation for the crypto sector.
HMRC said the information will help users' crypto activity be linked to their tax record to work out how much tax is payable.
Senator Cynthia Lummis has introduced a standalone bill to pursue the same objectives to ease up on several tax concerns involving digital assets activity.
Senator Cynthia Lummis has introduced a standalone bill to pursue the same objectives to ease up on several tax concerns involving digital assets activity.
Sen. Lummis renewed her push to modernize the tax treatment of digital assets and introduced a new bill on Thursday.
The effort from Senator Cynthia Lummis is one of several crypto tax provisions in an amendment aimed at reducing tax burdens in core areas of the industry.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
There has been a spike in IRS warning letters sent to crypto investors over the past few weeks, according to CoinLedger CEO David Kemmerer.
The Ohio Blockchain Basics Act, dubbed HB 116, now heads to the Senate for further consideration after passing the House.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Though courts have tools to compel disclosure of digital assets, Castellano said identification and valuation remain the biggest challenges.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Crypto capital gains will be exempt from personal income tax in Thailand if made through licensed exchanges, brokers, or dealers.
Sens. Cynthia Lummis and Bernie Moreno say a tax provision could have unintended consequences for companies holding digital assets.
The Internal Revenue Service's digital assets unit, responsible for overseeing crypto taxation and enforcement, has a new leader.
Coinbase urged the Supreme Court to consider an IRS case that it says "sets a dangerous precedent" surrounding customers' personal data.
The Fair Taxation of Digital Assets in Puerto Rico Act would include income derived from cryptocurrency staking, mining or trading in Puerto Rico as still federally taxable.
The tax would apply to profits from selling crypto for fiat currency or goods and services, but not to swapping one cryptocurrency for another.
Panama City now joins other cities across the globe, such as Detroit, in permitting cryptocurrencies for municipal payments.
President Donald Trump signed a resolution to repeal a controversial crypto tax rule finalized toward the end of the Biden administration.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
X submitted a brief to the US Supreme Court, challenging the IRS' use of so-called "suspicionless" subpoenas to obtain Coinbase user data.