Category: Taxation

Russian Crypto Industry Queries Government About Proposed Criminal Liability for Miners

The organization representing Russia’s crypto sector has asked the government in Moscow to clarify a proposal to introduce criminal liability for “gray” miners. The draft legislation seeks to punish those…

Revised Bill Suggests Prison Time for Russian Crypto Miners Evading Taxation

A draft law designed to regulate crypto mining in Russia introduces harsh penalties for miners failing to report digital assets to the state. In its latest revision, the bill also…

Income Tax Applies to Crypto Trading in Bosnia, Tax Administration Says

Individuals are expected to pay income tax on gains from cryptocurrency trading, the tax authority of Bosnia has determined. In the absence of dedicated regulations, the federal government in Sarajevo…

Uzbekistan Collects Over $300,000 From Crypto Sector

While operations with digital assets are not taxed in Uzbekistan, the government is receiving a growing amount of revenues from the industry. The increase in budget receipts has been attributed…

Where Are the Crypto OGs? — Taxation Is Theft, but Joe Biden Needs Ice Cream Money

Bitcoin was once viewed as a means to opt out of violent, legacy financial systems. Now, it is being co-opted by the very same, and zealous newcomers to crypto think…

Biden Vows to Veto House Republicans’ ‘Fair Tax Act’ Proposing Elimination of IRS

Several U.S. House of Representatives Republicans have proposed legislation that would significantly decrease funding for the Internal Revenue Service (IRS). The move comes after the newly elected Speaker, Kevin McCarthy,…

Romania Carries Out Raids as Part of Crypto Tax Evasion Probe

Authorities in Romania have conducted more than a dozen raids against people suspected of hiding income from cryptocurrency operations. The searches took place in late 2022 following an earlier investigation…

US Government Delays Tax Reporting Rules for Cryptocurrency Brokers

The enforcement of a requirement for brokers to report gains made by crypto investors has been postponed by the U.S. Treasury Department and the IRS. The new tax rules, incorporated…

Brussels Wants All Crypto Service Providers to Report Transactions of Europeans

The European Commission has set out to oblige platforms processing crypto transactions for EU residents to share information with tax authorities in the Union. According to the proposal, all crypto…

Crypto Miners in Kazakhstan to Buy Only Surplus Power, Under Digital Assets Bill

Companies extracting cryptocurrencies in Kazakhstan will be allowed to purchase only excess electricity on a government-controlled market. The decision comes with new legislation approved by lawmakers which regulates the activities…