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French Parliament Rejects Another Taxation Policy for Crypto

French Parliament Rejects Another Taxation Policy for Crypto

As reported by the French media outlet Capital yesterday, the lower house of the French parliament in the Assemblée Nationale has rejected the amendments made to the 2019 finance bill with regards to cryptocurrency taxation. This makes it the fourth rejection so far in an attempt to provide a compromise on cryptocurrency tax policy that makes it easy to blend …


HMRC Publishes Comprehensive Guide for UK Crypto Tax

HMRC Publishes Comprehensive Guide for UK Crypto Tax

Thorough crypto tax guidelines have been published in the United Kingdom by the nation’s tax agency, Her Majesty’s Revenue and Customs (HMRC). Published on 19 December, the comprehensive guide details the circumstances or instances in which a crypto holder, trader or someone who receives payment in the form of crypto would need to pay taxes. At present, the HMRC report refers …


US Crypto Tax Liability Confusion Prompts Specialized Software Use

tax, income tax

Cryptocurrency users are beginning to realize that no matter which part of the world they call home, the taxman has woken up to the fact that there is government revenue to be harvested from these digital assets. Many countries are beginning to revise tax laws to incorporate cryptocurrency profits into end-of-year declarations. This is a time of confusion for many …


Law Professor’s Paper Targets US Regulatory Confusion over Crypto

Law Professor's Paper Targets US Regulatory Confusion over Crypto

A professor from the University of Arkansas School of Law has written a paper essentially claiming that US regulators are in a state of confusion over exactly what cryptocurrency is. The article, entitled ‘U.S. Law: Crypto is Money, Property, a Commodity, and a Security, all at the Same Time’, written by professor Carol Goforth for the Journal of Financial Transformation, …


South Africa Considers Crypto as Part of National Payment System

South Africa’s Reserve Bank (SARB) alongside the country’s National Treasury has been discussing the possible implementation of new measures for the National Payment System (NPS) with cryptocurrency as one option. The National Payment System is regarded by South Africa as “one of the pillars of financial stability of the economic system” and the SARB “oversees the safety and soundness of …


Crypto Reading Catch Up? Now Could Be the Perfect Time

Crypto Reading Catch Up? Now Could Be the Perfect Time

With cryptocurrencies currently languishing ahead of their next step major step forward as international interest continues to grow, now might be the time to grab something to read, do some research, fill a few educational gaps, and prepare for the future as the industry gathers new momentum. Whether it be a fiction or a non-fiction read, there is plenty out …


G20 Calls for Universal Crypto Taxation Rules

G20 Calls for Universal Crypto Taxation Rules

Cryptocurrency and taxation have found their way among the main headlines coming out of the latest 2018 G20 meeting in Buenos Aires, alongside further commitments to fight climate change. The G20 has now announced the desire for universal cryptocurrency taxation legislation to cover all jurisdictions within its remit with the body planning to regard itself as a “huge IT company” …


Norway Pulls Switch on Bitcoin Mining Tax Subsidies

Norway Pulls Switch on Bitcoin Mining Tax Subsidies

Norway’s government is putting more pressure on cryptocurrency mining by following through with the threat that it was considering removing electricity tax subsidies on Bitcoin mining. Mining has been under stress recently as miners from around the world look for the next opportunity to tap into economical resources and ideal mining conditions. Norway not only has shown the world an …


Spain’s Tax Office Homes in on 15,000 Crypto Investors

Spain's Tax Office Homes in on 15,000 Crypto Investors

As part of a new taxation law introduced in October by Spain’s Council of Ministers, which requires private citizens to declare their cryptocurrency holdings, some 15,000 individuals have now been targeted. The new tax model centered on private cryptocurrency investors carries stiff penalties of up to EUR 5,000 (USD 5,740) for inaccurate tax returns. The 1,500 names held by the …


Identification, Tax, Self-Regulation Named Emerging Trends in Crypto Regulation

Ex-senior official at the US Commodity Futures Trading Commission (CFTC) Jeff Bandman recently shared his expectations on the future of cryptocurrency regulations, pointing to identity checks, a clearer tax obligation, and industry self-regulation as trending areas. Bandman said that a turning point for cryptocurrency regulation came in 2013 when the US government auctioned off the substantial amount of confiscated Bitcoin seized …


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