Joe Biden’s Latest Budget Targets Crypto Mining Tax and Increased Regulations for Digital Asset

U.S. President Joe Biden has recently unveiled his proposed budget for the upcoming fiscal year, which includes several key provisions aimed at regulating the cryptocurrency industry and generating significant tax revenue. These measures, if implemented, could have far-reaching implications for…

South Korea’s National Tax Service Partners with GTIC to Develop Cutting-Edge Virtual Asset Management System

In a bid to combat illegal activities and effectively monitor crypto transactions, Korea’s National Tax Service has embarked on the development of a cutting-edge management system. The initiative aims to enhance regulatory measures and address the growing concerns surrounding illicit…

Rising Crypto Tax Violations in Japan: Findings, Factors, and Calls for Reform

In a recent announcement, the Japanese National Tax Agency (NTA) disclosed that it has intensified its efforts to investigate and address tax violations related to cryptocurrencies. The NTA’s annual report on tax investigations revealed a surge in the number of…

Senator Warren Grills US Gov’t Over 2-Year Delay on Crypto Tax Rules

Senator Elizabeth Warren has articulated her apprehensions and reservations regarding the decision by the US government to delay the implementation of crucial crypto tax rules until 2026. In a detailed and strongly worded letter addressed to both Janet Yellen, the…

Crypto Electricity Tax Nixed in Important Debt Ceiling Deal

Crypto miners in the United States can now breathe a sigh of relief as plans by the Biden administration to impose a 30% tax on their electricity consumption have been scrapped in the latest deal to raise the country’s debt…

Biden’s administration Advocates for 30% Cryptocurrency Mining Electricity Tax in the US

The White House is seeking to implement a 30% tax on the electricity consumed by cryptocurrency mining in the next federal budget to minimize the industry’s impact on climate change. The president’s Council of Economic Advisers (CEA) highlights the negative…

Treasury Department and IRS Seek Feedback on Tax Treatment of NFTs as Collectibles

The Treasury Department and Internal Revenue Service (IRS) have announced plans to solicit feedback regarding the tax treatment of nonfungible tokens (NFTs) as collectibles under tax law. The guidance also requests comments on NFTs as collectibles and outlines the IRS’s…

Texas legislature Proposes Tax-Free Shopping with Bitcoin

Texas Bill Proposes Tax-Free Shopping with Bitcoin, Aims to Turn State into Cryptocurrency Capital. Bill HB4474 A new bill before the Texas legislature is calling for a master plan for the expansion of the blockchain industry. The bill, known as…

Is it good to leave Robinhood right away?

Well known mobile trading platform Robinhood has restricted its users for trading in cryptocurrencies on last Friday. This action was taken a day after Robinhood halting the buying of red-hot stocks like those of GameStop. These sudden actions of Robinhood…

Crypto Remuneration is Gaining Popularity Across Crypto Friendly Nations

Crypto remuneration is gathering steam around the world. At the moment, paying wages in decentralized digital coins is normal within the crypto industry. There is however no reason why this can’t be the case in other industries as well. A…