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“# Coinbase, PayPal join TaxBit Network for free crypto tax forms ” Crypto tax compliance firm TaxBit is working to unite major industry companies like Coinbase and Binance.US within one network to enable free 2021 tax forms for users. The crypto tax software provider on Tuesday launched the TaxBit Network, a certified network aiming to…
“# Thailand government to clear up crypto tax confusion ” Thailand is fast-tracking its crypto tax plans as it readies regulations for digital asset traders this month in an effort to provide further clarity on crypto-related activities. The Thai revenue department’s director-general has stated that clear criteria for calculating taxes on crypto trading profits will…
“# Crypto trades in Thailand now reportedly subject to 15% capital gains tax ” The government of Thailand is progressing in regulating the local cryptocurrency ecosystem by reportedly enacting new tax rules for the industry. Profits from crypto trading in Thailand are now subject to a 15% capital gains tax, The Bangkok Post news agency…
“# 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…
“# Spreading holiday joy through charitable giving with cryptocurrency ” The holidays are the perfect time of the year for giving back, and the rise of cryptocurrencies has created even more opportunities for charitable initiatives. This was highlighted during Giving Tuesday 2021, the Tuesday after Thanksgiving which saw over $2.4 million raised in cryptocurrency from…
“#H&R Block sues Block, formerly Square, over new name” Tax preparation company H&R Block on Thursday sued payment company Block, previously called Square, saying the new name infringed its trademarks. Block’s chief executive, Twitter co-founder Jack Dorsey, announced the name change earlier this month as the company looked to expand beyond its payment service into new areas, including blockchain….
“#Elon Musk calls Elizabeth Warren ‘Senator Karen’ in spat over taxes” Elon Musk called Elizabeth Warren “Senator Karen” and said she reminded him of an “angry Mom” on Tuesday after the Massachusetts Senator said the Tesla CEO should pay more in taxes. “Let’s change the rigged tax code so The Person of the Year will…
“# 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…
“# Things to know (and fear) about new IRS crypto tax reporting ” The Infrastructure Investment and Jobs Act (H.R. 3684) put crypto in the crosshairs, where Congress and the Internal Revenue Service (IRS) hope to scoop up enormous tax dollars. This reporting regime is projected to rake in an astounding $28 billion over the…
“# Fidelity Canada officially launches Bitcoin ETF and Bitcoin Mutual Fund ” On Thursday, Fidelity Canada officially launched the Fidelity Advantage Bitcoin exchange-traded fund (ETF) and the Fidelity Advantage Bitcoin ETF Fund (mutual fund), marking the first such assets to be made available in the country and confirming earlier reports on the matter. The funds have…