Will Detroit Soon Allow Residents to Pay Taxes with Cryptocurrency?

Beginning in 2025, Detroit will join the forefront of financial technology in the United States by enabling its residents to pay taxes and other city fees using cryptocurrency. This strategic shift places Detroit among a select few cities embracing digital…

Why is Italy raising Bitcoin capital gains tax to 42% from 26%?

The Italian government’s latest budget proposal has stirred significant debate, especially with its focus on increasing the capital gains tax for Bitcoin and digital assets. The Deputy Economy Minister, Maurizio Leo, highlighted several critical fiscal changes aimed at enhancing Italy’s…

Biden Proposes Tax That Could End US Bitcoin Mining Sector

The United States’ stance on cryptocurrency regulations, particularly concerning Bitcoin mining, has raised significant concerns within the industry. Despite the approval of Bitcoin exchange-traded funds (ETFs), the federal government’s aggressive approach to cryptocurrency regulations threatens to hinder the growth of…

Indian Crypto Industry Disheartened but Optimistic as India Stays Firm on Stringent Taxation

Recent years have seen a sharp increase in the acceptance and popularity of cryptocurrencies, resulting in a thriving market with enormous potential. However, a complex network of tax laws and high tax rates have been impeding the growth and innovation…

Republican Presidential Candidate Vivek Ramaswamy Reveals Crypto Policy Framework

Republican presidential candidate Vivek Ramaswamy has outlined a comprehensive and visionary crypto policy framework titled the “Three Freedoms of Crypto.” Becoming the first GOP contender to include crypto in a campaign platform Ramaswamy, a former biotech executive and a political…

Kevin O’Leary’s Analysis on Economic Impact and Cryptocurrency

O’Leary’s Insights into the Rising Interest Rates: Investor Kevin O’Leary, and business personality recently addressed the impact of escalating borrowing costs. He highlighted the ramifications of rating agencies signaling a downgrade in the country’s debt quality, affecting bond investors worldwide.…

IRS Issues Warning to Crypto Tax Defaulters

The internal revenue service (IRS), has begun to send out letters notifying crypto holders who owe the institution to pay their taxes in good time or face harsh penalties. The IRS is known for not mincing its words, and effecting…

Japanese ‘expert meeting’ seeks to simplify tax payment for digital assets

Japanese Investigation Committee has commenced discussions aimed at improving the system by simplifying tax payment procedure for virtual currency holders. Reports by regional news outlet Sankei indicated that the committee, which also serves as the main advisory body for the…