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The Democratic Party of Korea has confirmed its intention to introduce a 20% cryptocurrency taxation starting in Jan. 2025.
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Japan Prime Minister Shigeru Ishiba promises to include discussions of tax cut proposals from the opposition party in his economic stimulus package, involving tax cuts for gasoline and crypto assets. According to a Bloomberg report published on Nov. 20, Ishiba…
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Italy’s government is considering lowering its proposed tax hike on crypto trades, reducing the planned rate increase from 42% to 28%. This shift comes as Prime Minister Giorgia Meloni’s coalition appears inclined to amend the tax proposal, which was initially…
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Detroit is set to become the largest U.S. city to accept cryptocurrency for tax and fee payments. Starting mid-2025, residents can use crypto to make payments through a platform managed by PayPal, Detroit officials announced today. This initiative aligns with…
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A recent research report by Coincub and Blockpit highlights how varying tax policies, from zero taxes in the UAE to high rates in the U.S., shape crypto investment strategies. The crypto taxation landscape varies widely across the globe, as revealed…
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Hong Kong regulators are considering an extension on tax breaks to include digital assets like crypto and the use of artificial intelligence-technology in finance sectors. According to an Oct. 28 Bloomberg report, Hong Kong’s Secretary for Financial Services and the…
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Japan’s Democratic Party for the People leader, Yuichiro Tamaki, promises to cut crypto tax to 20% along with a number of other crypto-related policies if the party gets elected. In an X post on Oct. 21, Japanese politician and Democratic…
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Italy is considering raising its capital gains tax on crypto to 42% as part of efforts to reduce the fiscal deficit. Bitcoin (BTC) holders could soon face nearly two-fold tax increase in Italy, as the government plans to raise the…
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Bitcoin
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Japan’s Financial Services Agency is set to review its crypto regulations, potentially leading to lower taxes and allowing domestic funds to invest in tokens. Japan is preparing to review its cryptocurrency regulations, which could result in lower taxes and allow…
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Vice President Cevdet Yilmaz confirmed that Turkey will not implement a tax on profits from crypto or stock trading this year. The government previously considered such a tax but has focused on reducing existing tax exemptions, according to Bloomberg reporting.…
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Bitcoin
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Swan Bitcoin is partnering with Equity Trust Company to offer enhanced Bitcoin Individual Retirement Accounts. Clients can now seamlessly manage Bitcoin (BTC) within their retirement portfolios, with new account types such as Solo 401(k)s, Roth Solo 401(k)s, SEP IRAs, and…
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Bitcoin
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Recent rumors swirling on X accused presidential candidate Kamala Harris of endorsing President Biden’s 2025 proposal for a 25% tax that includes unrealized capital gains. What’s the truth behind the headlines and what caused the confusion? Earlier this week, on…
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Bitcoin
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Ukrainian financial detectives have charged a local blogger with $5 million in tax evasion through crypto transactions linked to online affiliate marketing. The Economic Security Bureau of Ukraine has charged a prominent local blogger with evading more than $5 million…
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The Internal Revenue Service has simplified the reporting requirements in the latest iteration of Form 1099-DA, which crypto brokers and taxpayers will use to report digital asset transactions. According to the Aug. 9 update, the new draft has removed several…
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Binance has received a show-cause letter from the Directorate General of GST Intelligence of Ahmedabad to pay inr 722 crores, approximately $86 million USD, as goods and services tax. According to a Times of India report, the DGGI, an agency…
Opinion
With the power of blockchain technology, music NFTs give musicians a new universe of creative and financial options, yet challenges remain.
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