Category: Bitcoin Taxes

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The New Normal: Cryptocurrency Goes Mainstream This Tax Season

Until quite recently, most cryptocurrency investors either did not know or did not care to pay taxes on the capital gains they accumulated buying and selling digital coins. The cryptocurrency community is now facing a hard truth: they...

Several States Spearhead Bitcoin Adoption in the U.S.

U.S. states with positive attitudes have advanced towards bitcoin legalization – a process that a growing number of elected officials consider inevitable, if not desirable. Numerous crypto-friendly bills have been introduced, and some of them have received approval...

Arizona Closer to Accepting Bitcoin and Regulating ICOs

Arizona may become the first U.S. state to legalize bitcoin as a payment option for tax purposes. Bills to that end have been advancing in the State Legislature, with one of them already passed by the Senate Finance...

Coinbase Sends American Clients IRS Tax Form 1099-K

If you are an American client of Coinbase and made plenty of transactions during 2017, you better check your email. The company sent out tax forms for 2017 to many clients who were not necessarily expecting it. Also...

Canada: ‘No Tax Changes’ For Bitcoin As Govt. Unveils Blockchain ID Scheme

Canada has unveiled a government Blockchain identity prototype while declining to change Bitcoin tax rules at the World Economic Forum (WEF) 2018. ‘We Don’t Plan Any Overhaul’ – Finance Minister As multiple sources report Monday, the country’s finance...

Russia’s Longest-Serving Finance Minister Backs Crypto “Self-Regulation”

Former Russian Finance Minister Alexei Kudrin favors “self-regulation” in the cryptocurrency sector. He believes it will be more effective, at this early stage, than any imposed regulations. Others have expressed similar views about the currently proposed regime. Kudrin...

Indians Expect Clarity on Bitcoin Taxes within Days

Under mounting pressure to make decisions and take steps to clarify cryptocurrency matters, the Indian government may soon shed some light on one of many unclear aspects – taxation. Local media have turned the spotlight on Budget 2018,...

Tax Loophole Found for UK Crypto Profits

Each country has its own systems for tax evaluation and collection, and some countries are stricter than others. One of the major issues governments have with cryptocurrencies is the difficulty in taxing profits made on trading. The United...

Internal Revenue Service (IRS) Asked to Provide a Clearer Cryptocurrency Tax Framework

At least two US institutions have requested that the IRS propose a definitive structure for taxing cryptocurrencies in the country. As authorities see the lucrative appeal of virtual currencies, they also see that they can benefit from this wealth...