crypto tax
Bithumb Goes for Olympic Gold; India Crypto Tax Questions
Japanese megabank to take advantage of stablecoin law. Korea’s Bithumb gets in on Winter Olympics action. Lack of clarity clouds India crypto tax. We’ll have more on those stories and other news shaping the cryptocurrency and blockchain world in this episode of "The Daily Forkast."
India’s 30% Crypto Tax Proposal Explained
Indian Finance Minister Nirmala Sitharaman announced the nation’s budget Tuesday, revealing it will tax digital assets at a 30% rate and launch a digital rupee by 2023.
India Unveils 2022 Budget Proposing 30% Crypto Tax, Digital Rupee Launch
In her presentation of the Modi government’s budget to Parliament, Indian Finance Minister Nirmala Sitharaman announced plans to launch a digital rupee by next year, and tax income from the transfer of virtual assets at 30%. This comes amid talks of a potential crypto ban in the country.
India Edges Toward Crypto Legalization With 30% Tax, Announces Digital Rupee Launch
Indian Finance Minister Nirmala Sitharaman announced a 30% tax on any income from the transfer of digital assets on Tuesday. She also said the digital rupee will most likely be issued by 2023, despite the lack of regulatory clarity.
Users of Coinbase, PayPal, FTX.US and More Will Be Able to File Crypto Taxes for Free Through TaxBit Network
Utah-based tax software firm TaxBit has launched the TaxBit Network, a supported network of 20 top crypto companies including Coinbase, Gemini and SuperRare, that will allow clients of supported institutions to access 2021 crypto tax forms at no charge. “The Hash” hosts discuss the product and what it means for crypto taxation.
Could Bitcoin Offset Portfolio Losses?
Some financial advisers are pitching cryptocurrencies in investment portfolios to generate a taxable loss that can be used to offset other investment capital gains from stocks and bonds, taking advantage of a tax-loss harvesting loophole. “The Hash” panel discusses the latest development in the wealth-management industry illuminating the potential benefits of crypto’s volatility.
Is Puerto Rico a Crypto Utopia?
Puerto Rico’s hands-off approach to capital gains, income, and business taxes is attracting crypto’s nouveau riche to its shores. Puerto Rico Blockchain Trade Association’s Giovanni Mendez and Keiko Yoshino discuss why the island is an important destination for the blockchain community and what it offers.
US Lawmakers Float New Crypto Tax Provisions in Reconciliation Bill
The proposals would close loopholes in different types of sales rules.
Status of The Crypto Tax Provision in the Infrastructure Bill
CoinDesk Global Policy and Regulation Managing Editor Nikhilesh De has the latest on the infrastructure bill awaiting a vote in the House. As Nik reports, lawmakers are still trying to amend the controversial crypto provision in the bill even though it doesn’t seem likely they will succeed.
Tax Software Firm TaxBit Value Tops $1B Unicorn Status
TaxBit, a crypto tax software provider for IRS and various institutional clients, raised $130 million in a Series B funding round that valued the startup at $1.33 billion.
