Abstract This report summarizes the tax and regulatory policy developments in the global cryptocurrency sector during the first half of November 2024. On the tax front, Italy adjusts the cryptocurrency tax rate to 28%. The United States – IRS: Cryptocurrency rewards must be taxed even if the account is...
This paper provides an in-depth analysis of the digital asset framework released by the Qatar Financial Centre (QFC), examining its significance in Qatar’s financial sector strategy. By closely interpreting key legal documents within the framework, including the Investment Token Rules, the QFC Digital Asset User Guide, the Digital Asset...
South Korea’s National Tax Service (NTS) recently announced plans to introduce a TRAC system, which will be developed by consulting firmGTlC. The system, called the “Virtual Asset Integrated Management System”, is designed to analyze and manage transaction data related todigital currencies.The National Tax Service has selected GTlC as the...
On November 14, local time in the U.S., 18 states, led by Kentucky, filed a lawsuit against the U.S. Securities and Exchange Commission (SEC) and its five commissioners in the Kentucky District Court. They accused the SEC of excessively regulating cryptocurrency and unfairly persecuting the crypto industry, in violation...
3. Two Landmark U.S. Crypto Lawsuits The Ripple case and the Terraform case are two landmark cases in the U.S. crypto industry that cannot be overlooked. In both cases, the courts defined the legal attributes of crypto assets from different perspectives, sparking a strong reaction within the crypto industry....
To the Reserve Bank of New Zealand: TaxDAO is pleased to have the opportunity to respond to the key issues at the intersection of digital assets and tax law raised by the Finance Committee. Founded by senior tax and financial executives from the Web3 field on February 20, 2023,...
Related news: The 2025 tax system reform outline clearly states the discussion of “re-examining the tax system for virtual currencies” and shows the path of separate taxation. Author: CoinPost The tax system investigation committees of Japan’s Liberal Democratic Party and Komeito Party recently clarified the outline of the 2025...
This report summarizes tax, accounting, and compliance policy developments in the global cryptocurrency industry for the second half of December 2024. On the tax front, The IRS has classified DeFi front-ends as brokers for tax reporting. The US reiterated its position in a tax dispute case, arguing that rewards...
Enhance Risk Awareness and Eliminate Fluke Mentality Although the tax authorities still have great uncertainty about whether and how to tax at this stage, the relevant tax regulations are still in a nascent stage. However, in the economic aspect of taxation, there are significant links in the cryptocurrency value...
