Tag: crypto taxation

Sep 16 2021

South Korean Lawmaker Says Deferring Crypto Taxation is Inevitable, Here is Why

The moves by the South Korea Ministry of Strategy and Finance to tax incomes bordering on digital currencies as planned by January 1 may be an exercise in futility. Faulting the plans, one of the country’s lawmakers, Rep. Noh Woong- rae of the Democratic Party of Korea said the relevant authorities or stakeholders lack the right The post South Korean Lawmaker Says Deferring Crypto...

Aug 12 2021

Bitwave Looks to Streamline Crypto Accounting as it Raises $7.25M From Investors

American crypto tax and accounting software provider, Bitwave, revealed it has raised $7.25 million in a recent funding round led by Blockchain Capital with participation from Arca, Nascent and Nima Capital. The funding will enable Bitwave to improve its software infrastructure while growing its client base. The company also mentioned that the funding will be The post Bitwave Looks to Streamline Crypto Accounting...

Aug 07 2021

Jul 02 2021

Big Setback For Foreign Crypto Exchanges In India as Gov Plans 18% Additional Taxation

Foreign crypto exchanges offering their service to Indian customers might have to pay additional tax, as per a report in The Economic Times. The Indian Tax authority is exploring the tax bracket that many foreign cryptocurrency exchanges may fall into depending on their service offerings in the country. At present foreign exchanges don't pay any The post Big Setback For Foreign Crypto Exchanges...

May 18 2021

DeFi Tax: Your Tax Obligations as a DeFi Trader

As cryptocurrency continues the battle for mass adoption, with growing fundamental usage milestones and real-world applications maturing, there is one indicator that could significantly hasten crypto’s true arrival in the mainstream. This is just how many national revenue services and taxmen are shifting their sights onto crypto assets and on those benefiting from their trade. The good news is that more...

Oct 29 2020

US IRS Publishes Its 2020 Tax Guidance Draft

Taxation in the crypto space is one of the most debated issues among regulators worldwide. The United States Internal Revenue Service (IRS), in its 2020 tax guidance draft, discussed details of proposed cryptocurrency taxation. Prior to this, the U.S. IRS distributed its main taxation form 1040 to over 150 million people. They were expected to indicate if they have sold, exchanged, received, or...

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