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“#Psaki won’t rule out tax cuts for wealthy despite Sanders’ SALT demand” White House press secretary Jen Psaki refused Wednesday to rule out tax cuts for people with incomes above $400,000 in President Biden’s nearly $2 trillion social and environmental spending bill — despite resistance from leftists led by Sen. Bernie Sanders. The issue is…
“# 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…
“# Law Decoded: India ponders going full China on crypto, Nov. 22–29 ” Are big emerging economies more likely to gravitate toward blanket crypto bans? China has set a precedent, and now it appears as if India could be weighing a similar policy direction: A bill containing a proposed ban on all “private cryptocurrencies” will…
“# MicroStrategy purchases $414.4 million worth of Bitcoin with total BTC balance eclipsing $3.5 billion ” Michael Saylor, CEO of enterprise data analytics company MicroStrategy, announced Monday morning via a Twitter post and company filing that the firm purchased an additional 7,002 Bitcoin (BTC) worth approximately $414.4 million and an average price of $59,187 per…
“# UK digital services tax targets crypto exchanges ” A recent update to Her Majesty’s Revenue and Customs (HMRC) regulations has introduced a digital services tax that will be levied on cryptocurrency exchanges operating in the United Kingdom. Crypto exchanges in the UK will now have to pay a 2% digital services tax according to…
“# 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…
“# Mixed messages on crypto tax rules create confusion in South Korea ” South Korean government officials have created confusion this year with conflicting announcements regarding a possible repeal or amendment of the upcoming crypto tax set to come into effect in 2022. Throughout 2021, debate has increased in intensity in the National Assembly, South…
“# South Korea financial authority rules that NFTs are taxable ” South Korea’s Financial Services Commission, or FSC, announced Tuesday that nonfungible tokens, or NFTs, will be taxed starting next year. According to The Korea Herald, this tax law amendment would impose a 20% tax on income from virtual assets that exceed 2.5 million won…
“# Crypto can erode tax base, Russia’s tax boss says ” The Russian Federal Taxation Service (FNS) is actively monitoring the cryptocurrency market to prevent tax evasion, FNS head Daniil Egorov said. Cryptocurrencies can potentially cause “significant erosion” to Russia’s tax base, Egorov argued in a Monday interview with the local publication RBC. But cryptocurrency…
“# UN’s COP26 climate change goals include emerging tech and carbon taxes ” In her monthly Expert Take column, Selva Ozelli, an international tax attorney and CPA, covers the intersection between emerging technologies and sustainability, and provides the latest developments around taxes, AML/CFT regulations and legal issues affecting crypto and blockchain. The 2021 United Nations…