As cryptocurrency continues to grow in popularity, regulators around the world are stepping up efforts to ensure tax compliance in this rapidly evolving space. For individuals and businesses involved in cryptocurrency transactions, conducting a Crypto Tax Risk Assessment has become an essential step to minimize legal and financial risks....
As cryptocurrency continues to grow in popularity, it’s essential for investors to understand the tax implications that come with their transactions. One of the most significant considerations for crypto traders is the capital gains tax, which applies to the profit made from selling or exchanging digital assets like Bitcoin,...
As cryptocurrencies continue to grow in popularity, governments worldwide are implementing regulations to ensure that taxes are collected on crypto transactions. For investors and traders, understanding the process of crypto tax settlement is crucial to avoid penalties and maintain compliance. What Is Crypto Tax Settlement? Crypto tax settlement refers...
As cryptocurrencies become more widely adopted, managing taxes for digital assets has become a critical concern for both individual investors and businesses. Given the volatile nature of cryptocurrencies and the diverse range of transactions, proper tax management can be challenging. Fortunately, advanced Crypto Tax Management Solutions are now available...
News BackgroundAuthor: Ronny MugendiIn a recent report, Denmark’s lax Law Commitee proposed taxing unrealized capital gains on cryptocurrency at 42%, starting January 1.2026This tax rule would apply to all cryptocurrencies purchased since Bitcoin’s incepion in 2009. f passed, these crypto assets would be subject tothe same tax regulations as...
The OECD update was released on 29 February 2024, in which the OECD Secretary-General presented a report to the G20 Finance Ministers and Central Bank Governors, highlighting the progress made so far by the OECD and G20 in implementing the two-pillar solution. The progress report on CARF is as...
Ethiopia became the first African country to start Bitcoin mining, although it still prohibits cryptocurrency trading. In 2022, it approved laws supporting mining, allowing for “high-performance computing” and “data mining”. According to Luxor Technologies, a Bitcoin mining service company, Ethiopia ranks fourth among the preferred destinations for Bitcoin mining...
Related News：Israel’s State Comptroller Holds Tax Authorities Accountable for $800 Million Crypto Tax GapAuthor: Shalini Nagarajan Israel’s State Comptroller, Matanyahu Englman, reportedly held the tax authority responsible for not strengthening its crypto tax collection efforts. This comes as the nation’s debt burden rises amid the ongoing war. A Tuesday...
News Update: Kenya has collected over $77 million in taxes from 384 cryptocurrency traders. As one of Africa’s largest cryptocurrency markets, Kenya views the crypto industry as a significant source of tax revenue. In the first half of 2023, the Kenyan Treasury introduced a 1.5% digital tax on cryptocurrency...
