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“# Crypto tax startup TaxBit raises $130M in funding round, now valued at $1.3B ” Already classified as a unicorn startup, United States-based cryptocurrency tax software developer TaxBit now has a valuation of more than $1.3 billion after a recent funding round. According to a Thursday announcement, IVP and Insight Partners led a $130 Series…
“# Iran’s tax authority wants to legalize crypto exchanges ” The Iranian National Tax Administration (INTA) is pushing to establish a legal framework for the taxation of crypto trading platforms operating in the country, according to a new proposal by the country’s tax authority. Two months after Iranian President Hassan Rouhani’s call for a legal…
“# ‘We’ll be back on this’ — Alabama senator derails crypto amendment with two words ” A compromise which proposed amending provisions in the bipartisan infrastructure deal on crypto failed to meet the requirements of a unanimous consent request in the Senate, making the bill likely to go to a full vote without additional changes….
“# Unchanged crypto tax bill will be put to a vote on Tuesday ” The provisions aim to raise $28 billion for infrastructure funding through expanded digital asset taxation, and will impose broad third-party reporting requirements on any crypto firm deemed to comprise a “broker.” On August 9, general counsel to Compound Finance, Jake Chervinsky,…
“# Crypto space weighs in on proposed amendments to US infrastructure deal ” With more than one amendment proposed to the U.S. infrastructure plan that would modify a provision on cryptocurrencies, some figures in the space are going against the one with White House support. Digital rights advocacy group Fight for the Future said today…
“# Treasury Secretary reportedly against amending crypto language in infrastructure bill ” On Wednesday of this week, several U.S. senators proposed an amendment to an infrastructure bill which would clarify language concerning crypto. Even though that proposal seemingly has the support of the white house, U.S. Treasury Secretary Janet Yellen has reportedly come out against…
“# Coinbase CEO Brian Armstrong says proposed crypto tax rule makes no sense ” Coinbase CEO Brian Armstrong is the latest crypto figure to come out against the wording of the proposed changes to cryptocurrency taxation in America. Tweeting on Wednesday, Armstrong stated that the provisions included in the crypto taxation proposal could have a…
“# Some US lawmakers want Bitcoin miners to be exempted from proposed crypto taxes ” Lawmakers in the United States have called for caution regarding implementing a proposed tax policy that could have significant implications for America’s crypto space. As previously reported by Cointelegraph, an expanded crypto taxation regime was a last-minute addition to the…
“# Taxpayers to avoid obligations by sending mining proceeds to IRAs ” North American mining and hosting firm Compass Mining is offering a new tax avoidance method for savvy crypto miners that file in the United States. In a Thursday announcement, Compass Mining said it had partnered with IRA provider Choice by Kingdom Trust to…
“# EY aims to simplify cross-border withholding tax process with blockchain ” Global professional services firm Ernst & Young (EY) continues exploring the potential of blockchain technology to improve taxation processes with a new initiative. The company announced Wednesday that EY completed a blockchain-based project to address complexities and inefficiencies in the cross-border withholding tax…