Category: Taxes

Russian prime minister proposes legal steps to bring order to crypto market

November 26, 2020

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Russia’s prime minister proposed recognizing crypto as property under the nation’s tax code. 9603 Total views 34 Total shares Russian prime minister Mikhail Mishustin has appeared to express support for the further development of the local cryptocurrency market. At a recent governmental meeting held on Nov. 26, Mishustin proposed the introduction of legal protections for […]

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South Korean government to delay crypto tax rules by three months

November 25, 2020

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Following lobbying by the Korean Blockchain Association, crypto exchanges have extra time to implement a new tax infrastructure. 3983 Total views 29 Total shares The South Korean National Assembly is planning to delay the implementation of new income tax laws on cryptocurrency gains following appeals from industry bodies. According to a Nov. 25 report on […]

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Lithuanian tax service’s first confiscated crypto sale nets $7.6M

November 24, 2020

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The Lithuanian State Tax Inspectorate exchanged Bitcoin, Ether and Monero for 6.4 million euro. 8393 Total views 25 Total shares The Lithuanian government has reportedly sold a batch of cryptocurrency seized by local enforcement agencies. The State Tax Inspectorate, or STI, the country’s tax authority, sold confiscated crypto assets worth 6.4 million euro ($7.6 million) […]

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U.S. law firm says IRS is coming after Coinbase users who evade taxes

November 11, 2020

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Once an IRS investigation or audit is opened, it’s too late to make amends, warn tax lawyers. 4172 Total views 69 Total shares The Tax Law Office of David W. Klasing, a boutique Californian tax firm, has issued a public release warning investors that the United States Internal Revenue Service is getting serious with Coinbase […]

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Winklevoss’ Gemini exchange to count crypto taxes in real time

October 29, 2020

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TaxBit’s tool will allow Gemini customers to increase their tax refund. 2176 Total views 44 Total shares American cryptocurrency exchange Gemini is partnering with tax compliance firm TaxBit to help its customers treport their crypto taxes with TaxBit’s Tax Center Suite solution. Tyler Winklevoss, CEO of Gemini exchange, said that TaxBit’s software will help reduce […]

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