Financial Services Agency has proposed to change the tax code around digital assets in a bid to free domestic firms from the end-of-the-year “unrealized gains” tax on crypto.
Harvard scholar Christine Kim writes that income and wealth in the metaverse should be subject to immediate taxation.
A proposed contact with the Kentucky Power Company would have allowed Ebon International to receive a discounted rate for service at its crypto mining facility over a decade.
House Financial Service Committee chair Patrick McHenry said the rules are part of “the Biden Administration’s ongoing attack on the digital asset ecosystem.”
City authorities of Cheongju are looking to seize cryptocurrency from anyone who owes at least $750 in crypto taxes to the government.
If approved, the legislation would place crypto assets held by Brazilians overseas subject to the same tax rules governing traditional assets.
A body representing FTX customers said it is “extremely disappointed” by the company’s reorganization plan.
A crypto bill signed into law in 2022 paved the way for the Ukrainian government to amend its tax code, but local exchanges still largely operate outside this framework.