IRS and Treasury Delay Crypto Gains Reporting Requirements
The crypto-focused provisions that were supposed to come into effect on January 1st have long been criticized over a lack of clarity.
BTC$62,533.00-3.27%
ETH$1,660.02-4.47%
USDT$0.9988-0.01%
USDC$0.9998+0.00%
XRP$1.10-3.16%
SOL$68.97-5.07%
TRX$0.3301-0.45%
FIGR_HELOC$1.04+0.35%
HYPE$62.57-7.36%
DOGE$0.079-5.01%
USDS$0.99960.00%
RAIN$0.0157+4.11%
LEO$9.54-0.17%
ZEC$417.90-7.62%
XLM$0.1932-6.36%
BTC$62,533.00-3.27%
ETH$1,660.02-4.47%
USDT$0.9988-0.01%
USDC$0.9998+0.00%
XRP$1.10-3.16%
SOL$68.97-5.07%
TRX$0.3301-0.45%
FIGR_HELOC$1.04+0.35%
HYPE$62.57-7.36%
DOGE$0.079-5.01%
USDS$0.99960.00%
RAIN$0.0157+4.11%
LEO$9.54-0.17%
ZEC$417.90-7.62%
XLM$0.1932-6.36%
According to a recent study, Oceania has the highest percentage of crypto taxpayers, and Asia has the lowest.
The crypto-focused provisions that were supposed to come into effect on January 1st have long been criticized over a lack of clarity.
EU is moving forward with crypto taxation and regulation both at the level of the Union and individual countries.
The non-binding resolution on crypto taxation in Europe was passed with 566 votes in favor, and 7 against on October 4th.
South Korean legislators, led by the recently elected crypto-friendly president Yoon Suk-yeol, delayed taxation on cryptocurrencies by an additional two years to 2025.
India's Central Government declares taxes on cryptocurrency gains, legitimizing the asset class.
As the new regulation comes into force next week, 40 crypto exchanges in South Korea would suspend all their services.
While the original bill suggests a lack of understanding digital assets, proposed amendments could save the day.
The Fed says inflation will likely stick around, while Congress drafts a bill targeting $30 billion raised via crypto taxes.
The right preparation could help you minimize Bitcoin tax liability. But first, you'll need to know which questions to ask.