Loading
Welcome at World Crypto Global. This portal is packed with useful content and resources to built out your own crypto skills. WorldCrypto is a site member of Gabriel Vega Network.
Slovenia’s Finance Ministry has proposed a 25% tax on crypto profits such as capital gains crypto sales. The proposal, which is has been opened for public participation, seeks to balance crypto taxation and capital investment taxes. The proposed legislation imposes a tax on crypto-to-fiat conversions or when individuals use crypto to pay for goods and […]
Indiana and Maine universities publish a study examining US cryptocurrency tax law. The paper proposes a new tax framework for cryptocurrency losses, which would prevent taxpayers from using them against other capital gains. (Read More)
The UK's taxation arm of the Treasury, HM Revenue and Customs, has launched a consultation seeking input from individuals and entities engaged in DeFi activities on a possible new tax regime. Under the proposed changes, crypto used in DeFi transactions would not be treated as a disposal for tax purposes, but a Capital Gains Tax would be triggered when cryptocurrencies are disposed of in a non-DeFi transaction. (Read More)
The proposed regulatory changes seek to simplify how DeFi returns are taxed and reduce the “administrative burden” for taxpayers.
U.S. President Joe Biden's fiscal 2024 budget plan proposes a crackdown on crypto wash sales and a doubling of the capital gains tax for certain investors, which could raise $24 billion. The proposed changes to crypto tax treatment aim to reduce the deficit by nearly $3 trillion over the next decade. The budget proposal seeks to eliminate the tax-loss harvesting strategy used by crypto traders, which allows them to sell assets at a loss for tax purposes before immediately repurchasing them. The proposal also aims to raise the capital gains tax rate for investors making at least $1 million to 39.6%. (Read More)
Bitcoin hasn’t reached mass adoption because it isn’t being used as a medium of exchange. By spending bitcoin, we can demonstrate its usefulness as money.
“Remember, you can’t offset your crypto losses against your salary and wages,” said ATO assistant commissioner Tim Loh.
Before levying income taxes on virtual assets, South Korean lawmakers have called for the government to prepare for effective implementation of new rules. (Read More)
The proposed legislation seeks to reduce friction in the usage of bitcoin as a daily currency.
If an unrealized capital gains tax is enacted, it could have major ramifications for the economy and create a dangerous precedent.
U.S. presidential candidate Robert F. Kennedy Jr. (RFK Jr.) has unveiled two new reforms for bitcoin if he is elected president. He plans to back the U.S. dollar with the cryptocurrency and eliminate capital gains taxes on the conversion of bitcoin to USD. RFK Jr. stressed that his administration’s mission is to make America “the [...]
The post US Presidential Candidate Robert Kennedy Jr Unveils Plan to Back US Dollar With Bitcoin appeared first on Crypto Breaking News.
The prime minister said Czech residents would not have to report crypto transactions under $4,200 per year or pay taxes for selling digital assets held for more than three years.
Ukraine plans to legalize cryptocurrencies by early 2025, applying standard taxation rules without offering tax incentives.
A Bloomberg report suggested Italian Prime Minister Giorgia Meloni could accept a proposal for a 28% tax hike on crypto rather than a 42% one.
Chainalysis faces a $650 million defamation lawsuit, the EUs ESMA pushes for MiCA amendments, Cyprus and Ireland scramble to align with regulations, and Italy plans to hike tax on Bitcoin.
Italy plans to raise the tax on Bitcoin capital gains to 42% and remove the 750 million euro minimum revenue requirement for the Digital Services Tax.
Anyone who has dealt with trading in traditional finance is likely to be aware of profit and loss (PnL). But is PnL in the cryptocurrency world the same? The ability to comprehend terms like mark-to-market (MTM), realized PnL and unrealized PnL will help develop a better understanding of the cryptocurrency a person holds. Without a [...]
The post What is profit and loss (PnL) and how to calculate it appeared first on Crypto Breaking News.
A bill seeking to put blockchain and crypto assets under the purview of the Kenyan Capital Markets Authority is supposedly set to be debated in the country’s parliament. The bill also seeks to “widen the meaning of ‘securities’ to capture digital currencies.” The persons that receive licenses from the regulator are also required to maintain [...]
The post Alleged Kenyan Bill Proposes Widening Definition of Securities to Include Crypto Assets appeared first on Crypto Breaking News.
The U.S. Internal Revenue Service (IRS) has issued a decree stating that American citizens drawing income from cryptocurrency staking services must categorize the value of those digital assets as gross income, the moment they officially take possession of the staking reward. IRS Clarifies Cryptocurrency Staking Income, Leaves Questions Unanswered Under fresh tax directives from the [...]
The post Crypto Staking in the Crosshairs: IRS Unveils New Tax Guidance appeared first on Crypto Breaking News.
World Crypto Global opens the door to digital freedom for everyone.
Manage your free WCG Coins securely—where simplicity meets global accessibility.
FREE CRYPTO COINS
AVAILABLE FOR RESERVATION
ALREADY ALLOCATED
No fees. No catch. Your crypto journey starts here.
World Crypto Global
