Tag: Tax

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Digital Chamber Sues Illinois Officials over 0.2% Crypto Tax

Cointelegraph is committed to providing independent, high-quality journalism across the crypto, blockchain, AI, and fintech industries.All news, reviews, and analyses are produced with full...

Crypto lobby group TDC sues Illinois to block digital asset tax

A crypto lobbying organization has sued the state of Illinois over a last-minute tax provision inserted into the state budget last month.TDC (otherwise known...

UK Adopts ‘No Gain, No Loss’ Tax Treatment For Crypto Lending And Liquidity Pools

The United Kingdom’s HM Revenue & Customs will treat certain disposals involving cryptoasset loans and liquidity pools as “no gain, no loss,”...

Reserve Bank of India (RBI) still favors crypto prohibition amid tax evasion fears

Tax authorities, meanwhile, are concerned about widespread underreporting. In the financial year ended March 2023, fewer than a quarter of the 645,000 individuals who...

India Crypto Tax Filings Lagged Trading Activity: Reuters

India’s tax department reportedly found widespread gaps in crypto tax reporting, warning that offshore exchanges, private wallets and peer-to-peer (P2P) trades are making crypto...

South Africa’s Tax Authority Proposes Crypto Tax Guidance

South Africa’s tax authority has proposed new guidance that clarifies how crypto assets are taxed under existing income and capital gains tax frameworks.The South...

Ethereum’s Staking Tax May Already Be Obsolete Due To EthLabs

Ethereum is running out of money, according to former insiders. The warning has sparked one of the fiercest Ethereum governance debates in months: should...

Crypto Urges Congress Pass Staking Tax Bill ‘As Introduced’

A group of crypto lobbying organizations has urged Congress to pass a bill on crypto staking and mining taxes without changes, saying it would...

Crypto Industry Unites Behind Bill To Fix Tax Rules For Miners And Stakers

The three largest U.S. crypto trade associations sent a joint letter to the House Ways and Means Committee on June 21, calling...

Crypto’s second U.S. lobbying front — tax policy — sees industry push on mining, staking

While the top focus of the industry remains the Digital Asset Market Clarity Act that would establish a full U.S. regulatory regime for crypto...

Illinois Enacts the Strictest Digital-Asset Tax in the US as Industry Group Urges Veto

Illinois Governor JB Pritzker has signed SB 3019, the Digital Asset Privilege Tax Act, making the state the first in the country to impose...

Crypto industry aghast at Illinois’ new tax on holding or transferring digital assets in state budget

The crypto industry is pushing back against a new tax law in the state of Illinois that enacts a 0.2% tax on businesses transacting...