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” Indian crypto trading volumes slump following hefty taxes “ Trading volume on three major Indian crypto exchanges plummeted 72.5% on average since July 1, when a 1% tax per transaction was enforced in the country. The Tax Deducted at Source (TDS) came into effect on July 1 and appears to have negatively affected traders…
” Argentina carries out crypto wallet seizures linked to tax delinquents “ Argentina’s tax authority has seized more than 1,000 cryptocurrency wallets linked to delinquent taxpayers in the country. According to a report from local media outlet iProUP, courts across Argentina authorized the seizure of 1,269 cryptocurrency wallets belonging to citizens with outstanding debt to…
” Nifty news: Sandbox LAND on Polygon, ETH gain a tax loss and more… “ Popular Ethereum-based Metaverse gaming platform The Sandbox has unveiled a bridge that enables users to transfer their virtual NFT LAND and native SAND tokens over to Layer-2 network Polygon (MATIC). While The Sandbox will live on Ethereum for the most…
” US govt delays enforcement of crypto broker reporting requirements: Report “ The provision in the U.S. infrastructure bill signed into law in November, which will require financial institutions and crypto brokers to report additional information, could reportedly be delayed. According to a Wednesday report from Bloomberg, the United States Department of the Treasury and…
” Portfolio in the red? How tax-loss harvesting can help stem the pain “ Crypto investors — particularly those that bought in toward the top of the market in 2021 — may be able to find some salvation through a tax-saving strategy called “loss harvesting” according to Koinly’s head of tax. Koinly is one of…
” Taxes of top concern behind Bitcoin salaries, Exodus CEO says “ Major cryptocurrency wallet provider Exodus continues paying its employees in Bitcoin (BTC) despite the ongoing bear market, with the total market cap dropping below $1 trillion on Monday. Since launching its software crypto wallet back in 2015, Exodus has been paying its staff…
“Stop siccing the IRS on nannies & other tiny entrepreneurs” Etsy, eBay and smaller retailers are fighting to repeal the new law that forces anyone who gets more than $600 a year in “business” payments via Venmo, PayPal or other third-party payment services to report each transaction to the IRS. As we’ve noted, that got…
“The IRS wants in on your Venmo” Side hustlers beware: Any income you make over $600 is now being reported to the Internal Revenue Service by payment apps including eBay, Venmo and Airbnb. The new law — which is in effect for the 2022 tax year — means that payment processors must start keeping track…
” Australian Mayor downplays crypto volatility, recommends it for rates payments “ Tom Tate, the Mayor of Gold Coast, Australia, has suggested that cryptocurrency could be used by residents to pay local taxes in future years, though critics have flagged volatility and the recent market crash as a cause for concern. “Why can’t we pay…
“The political class is shrinking NY on purpose” Call us the Not-So-Big Apple: Census data show New York City lost a staggering 300,000 residents from April 2020 to June 2021. NYC bureaucrats argue the 2020-2021 numbers are driven by the COVID response that shuttered schools and sent businesses reeling. Yes, this response was disastrous. People…