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IRS new forms may leave crypto investors guessing their tax bill
The first Form 1099-DA season is arriving for US crypto investors with a basic problem: many people are getting the new IRS form before they understand what it actually tells them. A Coinbase and CoinTracker survey of 3,000 US crypto users found that 61% were unaware of the new 2025 reporting rules, even though 74% said they knew crypto activity can be taxable and 56% rated their own knowledge of…
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Canada Struggles to Track Crypto Taxes as $100M Recovered in Audits
The Canadian Revenue Agency (CRA) revealed that 40% of taxpayers who use cryptoasset platforms are evading crypto taxes or are at high risk of non-compliance, the Canadian Press reported December 7. The news outlet said it received an emailed statement from CRA saying it has 35 auditors in its cryptoasset program, working on over 230 files, which have resulted in “significant taxes earned by…
Gemini to invest $24m in India despite current tax regulation
The U.S.-based cryptocurrency exchange also plans to double its headcount in India from 70 to 150 employees.
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WazirX says India will likely keep onerous crypto taxes until 2025
Tax relief for crypto transactions in India is unlikely for at least two more years, according to WazirX CEO Nischal Shetty
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Crypto World On Edge: Biden’s Tax Regulation Draws Sharp Criticism
United States President Joe Biden’s proposed cryptocurrency tax regulations are causing concern among many. These regulations would require brokers (individuals facilitating buying and selling) to report digital currency transactions to the government, aligning with existing practices for other monetary transactions. However, these rules are facing opposition within the cryptocurrency community.…
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US senators call to implement strict tax reporting rules for crypto
US Senators urge Treasury and IRS to implement crypto tax rules by December 2023, warning of potential $1.5 billion revenue loss. Four U.S. Senators, Elizabeth Warren, Robert P. Casey, Jr., Richard Blumenthal, and Bernard Sanders, have sent a letter to…
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JBA proposes tax reforms to empower Japan’s crypto ecosystem
The JBA has reportedly requested Prime Minister Fumio Kishida to revise Japan’s tax system concerning crypto assets
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Breaking: Presidential Candidate RFK Jr. Plans To Back US Dollar With Bitcoin & End Taxes
Democratic Presidential Candidate Robert F. Kennedy Jr. on Wednesday said he plans to back the US dollar with Bitcoin and end Bitcoin taxes. Pro-Bitcoin presidential candidate RFK Jr. committing support to the cryptocurrency industry is providing some hope for the industry at times when the industry faces intense regulatory scrutiny and government intervention. Robert F. The post Breaking:…
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