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“# Crypto taxation could deter investors, says Thai ruling party MP ” Thailand’s Committee on Monetary Affairs, Finance, Financial Institutions and Financial Market conducted a virtual meeting to discuss various aspects of crypto taxation. The ruling party MP Watanya Wongopasi posted a summary of the discussion on her Facebook page and urged the Excise department…
“# Binance eyes Thailand for latest crypto exchange expansion ” Binance is looking to re-establish crypto exchange services and possibly open a new branch in Thailand after signing an agreement with Gulf Energy Development PCL. Gulf Energy Development PCL is a Thai holding company run by billionaire Sarath Ratanavadi that focuses on the energy sector….
“# Indian taxman recovers $6.62M from WazirX for evading tax on commission ” Indian crypto exchange WazirX has reportedly paid over $6.6 million (49.2 crore rupees) following non-payment of Goods and Services Tax (GST) on trade commissions. The total recovery includes the pending tax of $5.43 million (40.5 crore rupees), the interest and a penalty…
“# Australian government gives nod to 6 world leading crypto reforms ” The Australian government is seriously consider the rollout of central bank digital currency (CBDC) and has backed numerous forward-looking regulatory crypto-proposals as part of a new “payments and crypto reform plan.” Treasurer Josh Frydenberg says the reforms “will firmly place Australia among a…
“# Vladimir Putin says cryptocurrencies ‘bear high risks’ ” On Tuesday, Vladimir Putin, President of the Russian Federation, voiced his criticism regarding the state of the criticism sector at the “Russian Calling” investment forum in Moscow. According to local news outlet lenta.ru, the president made the following remarks, as translated by Cointelegraph: “It is not…
“# South Korean lawmakers inch closer to deal to delay crypto tax by one year ” In what could be a big win for the local crypto industry, South Korean lawmakers are close to delaying taxation on digital assets for another year. Representatives from the Tax Subcommittee in the National Assembly, South Korea’s legislative body,…
“# Australian Tax Office says it can’t rely on crypto users’ own records ” The Australian Tax Office (ATO) says it can’t rely on crypto investors to keep track of their crypto transactions and profits — even though most investors try their best. Speaking at the 14th International ATAX Conference on Tax Administration conference on…
“# Traders expect Ethereum price to drop further ahead of Friday’s $550M options expiry ” Ether’s (ETH) 330% year-to-date gain has been largely fueled by the growth of decentralized finance and the explosion of non-fungible tokens. Proof of this comes from OpenSea, the largest NFT marketplace, surpassing the impressive mark of $10 billion in accumulated…
“# Lawmakers push back on crypto provisions in Infrastructure Bill ” Lawmakers from both sides of the aisle are fighting back against changes to tax reporting rules for crypto brokers and transactions over $10,000 in the newly passed Infrastructure Bill. Ten U.S. Democratic Congresspeople led by Rep. Darren Soto from Florida called for revisions to…
“# House passes $1T infrastructure bill with crypto tax for Biden’s approval ” The United States House of Representatives passed the $1.2 trillion bipartisan infrastructure bill, which if signed into law by President Joe Biden, would enforce new provisions in relation to crypto-tax reporting for all citizens. The infrastructure bill was first proposed by the…