Tax
White House Pushes for Punitive Tax on Crypto Mining
The Biden administration is campaigning for a tax first sought in a recent federal budget proposal, advocating that crypto miners pay an amount equal to 30% of their energy costs.
UK Crypto Tax Advisers Welcome Proposed Changes to DeFi Lending, Staking Treatment
The country’s tax authority is consulting the public on new rules it said are aimed at reducing the burden on crypto users.
IRS Hopes to Have New Crypto Operating Plan in '12-ish' Months, Official Says
Julie Foerster, the agency's point person for cryptocurrency taxation, also stressed a need for working with the community at Consensus 2023.
UK Tax Authority Proposes Changes to Treatment of DeFi Lending, Staking
The proposal, now open for public consultation, will also apply to crypto lending and staking through intermediaries, the authority said.
Sweden Drives Final Nail Into Its Bitcoin Mining Industry With Tax Hike
The 6,000% increase in taxes per kilowatt hour of energy may "ultimately destroy the industry" in the country.
How to Navigate Crypto Taxes Before the April 18 Deadline
TurboTax tax expert Lisa Greene-Lewis breaks down what crypto investors should know about their taxes ahead of next week's IRS tax deadline. Greene-Lewis addresses common mistakes, the most-asked questions, and what happens if your funds are frozen on a failed crypto exchange.
Japan Approves Web3 White Paper to Promote Industry Growth in the Country
The document proposes more tax reforms, clearer accounting standards and a DAO law.
El Salvador President Bukele to Introduce Bill That Would Eliminate Taxes on Technology Innovations
The country in 2021 became the first nation to adopt bitcoin as legal tender.
IRS Looks to Tax NFTs Like Other Collectibles
The U.S. Internal Revenue Service is considering whether to tax non-fungible tokens (NFT) on a par with other collectibles, such as stamps, works of art and fine wine, in a move likely to have an impact on those including the digital assets within their retirement plan, according to a document published Tuesday. "The Hash" panel discusses the proposal and the future of crypto taxes.
UK to Add Crypto Declaration in Tax Forms
Taxpayers will have to record their crypto gains separately as of next year, the U.K. Treasury said.
