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Should India Follow the US and Establish a Bitcoin Reserve? Polygon, Avail Co-Founders Talk to Gadgets 360
In an interview with Gadgets 360, Polygon and Avail co-founders Sandeep Nailwal and Anurag Arjun share their thoughts on whether India should establish a Bitcoin reserve like the US. Nimen Shah, a senior chartered accountant and international tax advisor from Mumbai, contributed to the discussion by emphasising India’s turbulent history with cryp...
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Russia Approves Tax Bill on Cryptocurrency Transactions Amid BTC Boom: Details
Recently, the Federation Council, the Upper House of the Russian Parliament, approved a new bill that outlines the taxation framework for cryptocurrencies. This bill classifies virtual digital currencies as property.
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Bitcoin Price Nears $90,000 After US President-Elect Donald Trump's Victory: What's Fuelling the Optimism Around Crypto
Bitcoin created its third all-time high in the past week, surging past $89,900 (roughly Rs. 75.9 lakh) in the last 24 hours, amid an ongoing surge spurred by Donald Trump's victory in the recently concluded US Presidential elections. Here's why investors are optimistic about US President-elect Donald Trump's return to the White House in January ...
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IMF Says Crypto Industry's Carbon Footprint Rising; Officials Mull Tax Surge to Curb Emissions
IMF officials have raised concerns about the crypto sector's carbon emissions and are considering whether a tax increase on crypto mining could help reduce its carbon footprint. In a blog post, the officials suggested that an 85 percent tax hike on power usage by crypto miners could potentially cut the sector's annual emissions by an estimated 100 ...
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Roger Ver, Known As "Bitcoin Jesus", Arrested In Spain On US Tax Evasion Charges
Roger Ver, 45, was charged with mail fraud and tax evasion in an indictment filed in federal court in Los Angeles that was unsealed following his arrest in Spain during the weekend, the department said.
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New Cryptocurrency Tax Reporting Rule Proposed in US for Sales, Exchanges of Digital Assets
Cryptocurrency brokers, including exchanges and payment processors, would have to report new information on users' sales and exchanges of digital assets to the Internal Revenue Service (IRS) under a proposed US Treasury Department rule published on Friday. The rule is part of a broader push by Congress and regulatory authorities to crack down on c...
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US Scraps Excise Tax Proposal on Bitcoin Mining After Biden Refuses to Slash Crypto Taxes
Earlier this month, the US’ Council of Economic Advisors (CEA) floated a proposal to have Bitcoin miners pay a tax equal to 30 percent of the total energy cost that they consumed in the crypto mining process. The proposal has been scrapped by the US. The decision to pull the plug on this proposal could be part of a bunch of tax-related rebates in...
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US Government May Impose Disciplinary 30 Percent Taxes on Crypto Miners: Details
The US is mulling on imposing a punitive tax on companies and individuals indulging in crypto mining in the country. Soon, the US could ask crypto miners to pay a tax equal to 30 percent of the total energy cost that they consume in mining cryptocurrencies.
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India Should Consider Lowering TDS Rate on Cryptocurrency Trade to Stem Flight of Capital, Users: Report
India should consider lowering the 1 percent TDS imposed on cryptocurrency transactions, according to a joint report Chase India and Indus Law. The government, from April 1 last year, has brought in a 30 per cent income tax plus surcharge and cess on transfer of virtual digital assets (VDAs), including cryptocurrencies, like Bitcoin, Ethereum, Teth...
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Received Rs 60.46 Crore From Tax On Virtual Digital Assets: Centre
The government, from April 1, has brought in a 30 per cent income tax plus surcharge and cess on transfer of crypto assets, like Bitcoin, Ethereum, Tether and Dogecoin.
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Crypto Sector Disappointed Over Australia's Decision to Treat Digital Currencies as Assets
The cryptocurrency industry said on Wednesday it was disappointed with Australia's decision to continue treating digital currencies as assets for tax purposes, and not as foreign currency. The government said in its budget announcement on Tuesday it would introduce legislation to enshrine the treatment of digital currencies such as Bitcoin as an as...
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Cryptocurrency Industry Disappointed As Australia Looks To Enshrine Tax Rules
The cryptocurrency industry said on Wednesday it was disappointed with Australia's decision to continue treating digital currencies as assets for tax purposes, and not as foreign currency.
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Bitcoin Patron Michael Saylor and MicroStrategy Face US Lawsuit Over Tax Fraud Allegations
MicroStrategy CEO Michael Saylor is facing a lawsuit on allegations of tax fraud, Washington D.C. Attorney General Karl Racine announced Wednesday. Racine added that Washington D.C. was also suing MicroStrategy "for conspiring to help [Saylor] evade taxes he legally owes on hundreds of millions of dollars he’s earned while living in DC."
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US States Shelve Plans To Accept Bitcoin Tax Payments Amid Crypto Crash
Two US states are steaming ahead with programs that will permit taxes to be paid in cryptocurrency, but the idea has been shelved almost everywhere else in the wake of the crash that has erased hundreds of billions of dollars worth of digital assets.
-
India’s Cryptocurrency Position Said to Be Vindicated Amid Global Crypto Market Downturn
India has taken a conservative position on cryptocurrency, and the government’s decision is said to be vindicated by the ongoing global cryptocurrency market meltdown. To dampen crypto trading, a one percent tax deducted at source (TDS) on crypto transactions was introduced on July 1, following a 30 percent capital gains tax on all transactions t...
-
Should India Follow the US and Establish a Bitcoin Reserve? Polygon, Avail Co-Founders Talk to Gadgets 360
In an interview with Gadgets 360, Polygon and Avail co-founders Sandeep Nailwal and Anurag Arjun share their thoughts on whether India should establish a Bitcoin reserve like the US. Nimen Shah, a senior chartered accountant and international tax advisor from Mumbai, contributed to the discussion by emphasising India’s turbulent history with cryp...
-
Russia Approves Tax Bill on Cryptocurrency Transactions Amid BTC Boom: Details
Recently, the Federation Council, the Upper House of the Russian Parliament, approved a new bill that outlines the taxation framework for cryptocurrencies. This bill classifies virtual digital currencies as property.
-
Bitcoin Price Nears $90,000 After US President-Elect Donald Trump's Victory: What's Fuelling the Optimism Around Crypto
Bitcoin created its third all-time high in the past week, surging past $89,900 (roughly Rs. 75.9 lakh) in the last 24 hours, amid an ongoing surge spurred by Donald Trump's victory in the recently concluded US Presidential elections. Here's why investors are optimistic about US President-elect Donald Trump's return to the White House in January ...
-
IMF Says Crypto Industry's Carbon Footprint Rising; Officials Mull Tax Surge to Curb Emissions
IMF officials have raised concerns about the crypto sector's carbon emissions and are considering whether a tax increase on crypto mining could help reduce its carbon footprint. In a blog post, the officials suggested that an 85 percent tax hike on power usage by crypto miners could potentially cut the sector's annual emissions by an estimated 100 ...
-
Roger Ver, Known As "Bitcoin Jesus", Arrested In Spain On US Tax Evasion Charges
Roger Ver, 45, was charged with mail fraud and tax evasion in an indictment filed in federal court in Los Angeles that was unsealed following his arrest in Spain during the weekend, the department said.
-
New Cryptocurrency Tax Reporting Rule Proposed in US for Sales, Exchanges of Digital Assets
Cryptocurrency brokers, including exchanges and payment processors, would have to report new information on users' sales and exchanges of digital assets to the Internal Revenue Service (IRS) under a proposed US Treasury Department rule published on Friday. The rule is part of a broader push by Congress and regulatory authorities to crack down on c...
-
US Scraps Excise Tax Proposal on Bitcoin Mining After Biden Refuses to Slash Crypto Taxes
Earlier this month, the US’ Council of Economic Advisors (CEA) floated a proposal to have Bitcoin miners pay a tax equal to 30 percent of the total energy cost that they consumed in the crypto mining process. The proposal has been scrapped by the US. The decision to pull the plug on this proposal could be part of a bunch of tax-related rebates in...
-
US Government May Impose Disciplinary 30 Percent Taxes on Crypto Miners: Details
The US is mulling on imposing a punitive tax on companies and individuals indulging in crypto mining in the country. Soon, the US could ask crypto miners to pay a tax equal to 30 percent of the total energy cost that they consume in mining cryptocurrencies.
-
India Should Consider Lowering TDS Rate on Cryptocurrency Trade to Stem Flight of Capital, Users: Report
India should consider lowering the 1 percent TDS imposed on cryptocurrency transactions, according to a joint report Chase India and Indus Law. The government, from April 1 last year, has brought in a 30 per cent income tax plus surcharge and cess on transfer of virtual digital assets (VDAs), including cryptocurrencies, like Bitcoin, Ethereum, Teth...
-
Received Rs 60.46 Crore From Tax On Virtual Digital Assets: Centre
The government, from April 1, has brought in a 30 per cent income tax plus surcharge and cess on transfer of crypto assets, like Bitcoin, Ethereum, Tether and Dogecoin.
-
Crypto Sector Disappointed Over Australia's Decision to Treat Digital Currencies as Assets
The cryptocurrency industry said on Wednesday it was disappointed with Australia's decision to continue treating digital currencies as assets for tax purposes, and not as foreign currency. The government said in its budget announcement on Tuesday it would introduce legislation to enshrine the treatment of digital currencies such as Bitcoin as an as...
-
Cryptocurrency Industry Disappointed As Australia Looks To Enshrine Tax Rules
The cryptocurrency industry said on Wednesday it was disappointed with Australia's decision to continue treating digital currencies as assets for tax purposes, and not as foreign currency.
-
Bitcoin Patron Michael Saylor and MicroStrategy Face US Lawsuit Over Tax Fraud Allegations
MicroStrategy CEO Michael Saylor is facing a lawsuit on allegations of tax fraud, Washington D.C. Attorney General Karl Racine announced Wednesday. Racine added that Washington D.C. was also suing MicroStrategy "for conspiring to help [Saylor] evade taxes he legally owes on hundreds of millions of dollars he’s earned while living in DC."
-
US States Shelve Plans To Accept Bitcoin Tax Payments Amid Crypto Crash
Two US states are steaming ahead with programs that will permit taxes to be paid in cryptocurrency, but the idea has been shelved almost everywhere else in the wake of the crash that has erased hundreds of billions of dollars worth of digital assets.
-
India’s Cryptocurrency Position Said to Be Vindicated Amid Global Crypto Market Downturn
India has taken a conservative position on cryptocurrency, and the government’s decision is said to be vindicated by the ongoing global cryptocurrency market meltdown. To dampen crypto trading, a one percent tax deducted at source (TDS) on crypto transactions was introduced on July 1, following a 30 percent capital gains tax on all transactions t...
