India Passes Controversial Crypto Tax Laws, Effective on April 1

India’s parliament on Friday passed a law designed to tax digital assets including cryptocurrencies. Users will begin paying capital gains taxes of 30% on crypto transactions from 1st April 2022. (Read More)

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Spain Strengthens Crypto Oversight to Settle Tax Debts

Spanish Ministry of Finance is implementing legislative reforms to increase cryptocurrency monitoring, enabling seizure of digital assets for tax debt resolution, aligning with EU regulations. (Read More)

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IRS investigating crypto traders using Puerto Rico tax breaks: Report

Prosecutors from the United States and agents from the Internal Revenue Service (IRS) are reportedly investigating wealthy crypto traders and fund managers suspected of illegally benefiting from Puerto Rico’s tax breaks.  According to a June 12 report from Bloomberg, investigators are currently building civil and criminal cases against a number of hedge fund managers, crypto [...]

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How to use tax planning strategies for maximum savings

Tax management is an essential component that can have a big impact on your overall savings and investment results. The implementation of efficient tax planning tactics is crucial, regardless of whether you are involved in conventional financial markets or are looking at prospects in the cryptocurrency field.  This article will discuss important factors for maximizing [...]

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Elizabeth Warren, Bernie Sanders urge closure of ‘$50 billion crypto tax gap’

U.S. senators including Elizabeth Warren and Bernie Sanders claimed crypto tax evaders are siphoning off billions from the government.

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Crypto Staking in the Crosshairs: IRS Unveils New Tax Guidance

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 [...]

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