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Crypto Tax News
As governments refine regulations, crypto taxation remains a crucial topic for traders and investors. Crypto tax news provides updates on reporting requirements, tax loopholes, and compliance strategies. Understanding evolving tax laws can help users avoid penalties and optimize their crypto earnings legally.
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Indonesia’s crypto tax revenue continues to rise, reaching as high as $36.40 million yearly. The government is preparing to hike up the tax rate for crypto transactions this month. According to data from the Directorate General of Taxes reported by…
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The Indonesian government plans to raise taxes on cryptocurrency transactions, effective immediately starting from August 1. The new law will apply to overseas exchanges, domestic exchanges and more. According to a recent Reuters report, a new finance ministry regulation is…
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Bybit has begun applying an 18% GST on service and trading fees for Indian users starting July 7, further intensifying the country’s already heavy crypto tax burden. Starting today, Bybit will apply an 18% Goods and Services Tax on service…
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Britain’s crypto traders may soon face more than just market volatility—starting in January, failure to share personal details with trading platforms could cost them £300 each. The UK government is tightening its grip on the crypto economy with new tax…
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U.S. Senator Cynthia Lummis has introduced a cryptocurrency tax legislation proposal aimed at enacting a comprehensive digital asset tax framework in the United States. Lummis, who leads the Senate Banking Committee’s digital assets subcommittee, unveiled the crypto tax proposal on…
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Lately, the Internal Revenue Service has ramped up the frequency of warning letters sent to cryptocurrency investors. Reports indicate that most recipients receive one of three letter types: 6173, 6174, or CP2000. But what do these letters mean, and do…
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Japan’s Financial Services Agency considers reclassifying crypto assets as financial products under Financial Instruments and Exchange Act (FIEA), which would reduce capital gains tax on crypto to a flat 20%. On June 24, Japan’s Financial Services Agency released a new…
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A recent ruling in a criminal court case classified crypto assets as money, which goes against the long-held crypto tax Australian office that counts crypto as capital gains. A court decision involving a federal police officer who allegedly stole 81.6…
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Thailand has announced a five-year exemption on capital gains tax for crypto transactions, aiming to boost tax revenue and position the country as a global digital asset hub. Thailand’s Ministry of Finance has approved a new tax measure aimed at…
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India’s Income Tax Department has launched a fresh crackdown on potential tax evasion and money laundering tied to virtual digital assets, including cryptocurrencies. According to government officials and local reporting, the department has identified individuals and entities engaging in crypto…
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Switzerland’s Federal Council recently green lit a bill that allows for the automatic exchange of crypto information with 74 other countries, excluding the U.S, Saudi Arabia and China. In a press release issued on June 6, Switzerland’s Federal Council has…
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The U.S. Department of Labor on Wednesday rescinded its 2022 directive that had discouraged retirement plan fiduciaries from offering cryptocurrency as an investment option in 401(k) plans. The department is calling the earlier guidance a deviation from established legal standards…
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Missouri lawmakers have passed a sweeping tax bill that exempts capital gains from state income tax and sent it to Gov. Mike Kehoe for signature. The measure, a top priority for House Republicans, passed the House Wednesday with only GOP…
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Slovenia authorities are looking to bring a 25% tax proposal targeting personal crypto profits into effect in 2026 if adopted into law. On April 17, the Slovenian finance ministry submitted for public discussion and feedback, a proposal that seeks to…
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Ukraine’s securities regulator has proposed applying the country’s full personal income and military taxes to crypto gains, totaling 23%. Ukraine‘s Securities and Exchange Commission has proposed a 23% tax on individual income from crypto operations, consisting of an 18% personal…
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The U.S. Senate has voted 70-27 to overturn an Internal Revenue Service rule that would have imposed new reporting requirements on decentralized finance brokers. As reported by Business Insider, the motion presented by Senator Ted Cruz, was approved under the…
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