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'Bitcoin Jesus' Agrees To Pay $50 Million To Resolve US Tax Case
Roger Ver, an early investor in cryptocurrency known as "Bitcoin Jesus," has agreed to pay $50 million to resolve US tax charges, the Justice Department said Tuesday.
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Income Tax Department Said to Target Over 400 Wealthy Binance Traders in Major Tax Evasion Crackdown
The tax authorities have launched an extensive investigation into over 400 wealthy Binance users for possible tax evasion between 2022 and 2025. Officials are examining peer-to-peer trades and payments via banks, Google Pay, and cash. Binance’s re-entry in 2024, following a $2.25 million (Rs. 20 crore) fine and registration with the FIU, has give...
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RBI-Backed Digital Currency to Be Launched in India, Union Minister Piyush Goyal Says
The country will launch an RBI-backed digital currency to discourage unbacked cryptocurrencies. Union Minister Piyush Goyal said heavy taxation will deter risky tokens, while the new digital rupee enables faster, traceable payments. Experts see the move as a shift from a "tax-and-tolerate" approach to stricter oversight, favouring compliance-aligne...
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UAE to Begin Sharing Crypto Tax Data Under Crypto Asset Reporting Framework in 2028
The UAE has signed the Multilateral Competent Authority Agreement (MCAA) under the Crypto-Asset Reporting Framework (CARF), joining global efforts to automatically exchange cryptocurrency tax information. The framework will be implemented in 2027, with the first data sharing expected in 2028. Public consultation, running from September 15 to Novemb...
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Ukraine’s Parliament Backs Draft Law to Legalise, Tax Crypto and Virtual Assets
Ukraine’s parliament has approved the first reading of a crypto legalisation bill that introduces an 18 percent tax on digital asset profits. Lawmakers believe the framework could help recover up to $10 billion (roughly Rs. 88,000 crore) lost to crypto crime while aligning with EU rules. The move signals Ukraine’s intent to integrate crypto int...
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Nithin Kamath Points Out Risks in India’s Developing Crypto Market Future
Zerodha co-founder Nithin Kamath has raised concerns about India’s booming crypto futures market, pointing to extreme leverage and tax loopholes driving the surge. Unlike spot trades that fall under strict taxation, futures remain in a regulatory grey zone, enabling traders to bypass both TDS and the 30% tax on VDAs. Experts caution that while le...
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Donald Trump's Youngest Son, Barron, May Have Earned $40 Million From Family's Crypto Venture: Report
Barron Trump, the youngest child of US President Donald Trump, may have earned close to $40 million - $25 million after taxes - from the sale of crypto tokens linked to the family's crypto venture named World Liberty Financial, according to Forbes.
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Australian Taxation Office Issues 2025 Tax Return Guidelines
More than than 15 million Australians will file tax returns in 2025. The Australian Taxation Office urges citizens to lodge accurate tax returns and warns against false claims.
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US Banks Permitted to Offer Crypto Custody and Management Services, OCC Confirms
The US Office of the Comptroller of the Currency (OCC) has clarified that all national banks and federal savings associations under its control are permitted to offer crypto services to their clients. These may include crypto-to-fiat conversions, trade executions, and tax services among others.
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FIU-IND Reportedly Sets June 30 Deadline for Crypto Exchanges to Redo KYC Verification
The Financial Intelligence Unit of India (FIU-IND) has instructed all crypto exchanges to re-verify the KYC data of their users before June 30. The aim of this step is to maintain accurate details of crypto holders, while also identifying those flouting national crypto tax laws.
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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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Trump Reverses ‘DeFi Broker Rule’ Introduced Under Biden: All Details
In a major policy shift, President Trump has signed an executive order revoking the “DeFi Broker Rule,” a regulation introduced during the final months of former President Joe Biden’s term. Originally slated to take effect in 2026, the rule aimed to curb tax evasion by increasing oversight of cryptocurrency transactions.
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FM Claims Access to WhatsApp Messages Led to Seizure of Crypto Worth Rs. 90 Crore
This week in Parliament, Finance Minister Nirmala Sitharaman stated that encrypted communication channels are being misused for financial crimes like money laundering and tax evasion. She revealed that authorities were able to seize over Rs. 90 crores in crypto assets from a syndicate thanks to access to WhatsApp messages.
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Crypto Trading Booms in India's Smaller Cities as Job Growth and Incomes Disappoint
Many young Indians are dabbling in crypto trading to supplement their regular income in the world's most populous country where jobs and pay increases have lagged world-beating economic growth. Nearly two-thirds of its 1.4 billion people are below the age of 35, according to a government report.
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Income Tax Bill 2025 Clarifies Virtual Digital Asset Definition, Includes NFTs: Key Details
The Income Tax Bill 2025 classifies any cryptographically generated code, number, or token representing inherent value as part of the country's VDA ecosystem.
-
'Bitcoin Jesus' Agrees To Pay $50 Million To Resolve US Tax Case
Roger Ver, an early investor in cryptocurrency known as "Bitcoin Jesus," has agreed to pay $50 million to resolve US tax charges, the Justice Department said Tuesday.
-
Income Tax Department Said to Target Over 400 Wealthy Binance Traders in Major Tax Evasion Crackdown
The tax authorities have launched an extensive investigation into over 400 wealthy Binance users for possible tax evasion between 2022 and 2025. Officials are examining peer-to-peer trades and payments via banks, Google Pay, and cash. Binance’s re-entry in 2024, following a $2.25 million (Rs. 20 crore) fine and registration with the FIU, has give...
-
RBI-Backed Digital Currency to Be Launched in India, Union Minister Piyush Goyal Says
The country will launch an RBI-backed digital currency to discourage unbacked cryptocurrencies. Union Minister Piyush Goyal said heavy taxation will deter risky tokens, while the new digital rupee enables faster, traceable payments. Experts see the move as a shift from a "tax-and-tolerate" approach to stricter oversight, favouring compliance-aligne...
-
UAE to Begin Sharing Crypto Tax Data Under Crypto Asset Reporting Framework in 2028
The UAE has signed the Multilateral Competent Authority Agreement (MCAA) under the Crypto-Asset Reporting Framework (CARF), joining global efforts to automatically exchange cryptocurrency tax information. The framework will be implemented in 2027, with the first data sharing expected in 2028. Public consultation, running from September 15 to Novemb...
-
Ukraine’s Parliament Backs Draft Law to Legalise, Tax Crypto and Virtual Assets
Ukraine’s parliament has approved the first reading of a crypto legalisation bill that introduces an 18 percent tax on digital asset profits. Lawmakers believe the framework could help recover up to $10 billion (roughly Rs. 88,000 crore) lost to crypto crime while aligning with EU rules. The move signals Ukraine’s intent to integrate crypto int...
-
Nithin Kamath Points Out Risks in India’s Developing Crypto Market Future
Zerodha co-founder Nithin Kamath has raised concerns about India’s booming crypto futures market, pointing to extreme leverage and tax loopholes driving the surge. Unlike spot trades that fall under strict taxation, futures remain in a regulatory grey zone, enabling traders to bypass both TDS and the 30% tax on VDAs. Experts caution that while le...
-
Donald Trump's Youngest Son, Barron, May Have Earned $40 Million From Family's Crypto Venture: Report
Barron Trump, the youngest child of US President Donald Trump, may have earned close to $40 million - $25 million after taxes - from the sale of crypto tokens linked to the family's crypto venture named World Liberty Financial, according to Forbes.
-
Australian Taxation Office Issues 2025 Tax Return Guidelines
More than than 15 million Australians will file tax returns in 2025. The Australian Taxation Office urges citizens to lodge accurate tax returns and warns against false claims.
-
US Banks Permitted to Offer Crypto Custody and Management Services, OCC Confirms
The US Office of the Comptroller of the Currency (OCC) has clarified that all national banks and federal savings associations under its control are permitted to offer crypto services to their clients. These may include crypto-to-fiat conversions, trade executions, and tax services among others.
-
FIU-IND Reportedly Sets June 30 Deadline for Crypto Exchanges to Redo KYC Verification
The Financial Intelligence Unit of India (FIU-IND) has instructed all crypto exchanges to re-verify the KYC data of their users before June 30. The aim of this step is to maintain accurate details of crypto holders, while also identifying those flouting national crypto tax laws.
-
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...
-
Trump Reverses ‘DeFi Broker Rule’ Introduced Under Biden: All Details
In a major policy shift, President Trump has signed an executive order revoking the “DeFi Broker Rule,” a regulation introduced during the final months of former President Joe Biden’s term. Originally slated to take effect in 2026, the rule aimed to curb tax evasion by increasing oversight of cryptocurrency transactions.
-
FM Claims Access to WhatsApp Messages Led to Seizure of Crypto Worth Rs. 90 Crore
This week in Parliament, Finance Minister Nirmala Sitharaman stated that encrypted communication channels are being misused for financial crimes like money laundering and tax evasion. She revealed that authorities were able to seize over Rs. 90 crores in crypto assets from a syndicate thanks to access to WhatsApp messages.
-
Crypto Trading Booms in India's Smaller Cities as Job Growth and Incomes Disappoint
Many young Indians are dabbling in crypto trading to supplement their regular income in the world's most populous country where jobs and pay increases have lagged world-beating economic growth. Nearly two-thirds of its 1.4 billion people are below the age of 35, according to a government report.
-
Income Tax Bill 2025 Clarifies Virtual Digital Asset Definition, Includes NFTs: Key Details
The Income Tax Bill 2025 classifies any cryptographically generated code, number, or token representing inherent value as part of the country's VDA ecosystem.
