“The onus of deducting TDS has been on crypto exchanges or on the user (if using P2P or other means), but until now there was no penalty for non-deduction,” CoinSwitch’s CEO said

But watch out for that economic substance doctrine, it’s a doozy

The proposed guidelines are aimed at sharing cryptoasset taxpayer information between the OECD countries

Volumes on WazirX, ZebPay, CoinDCX, BitBNS have tumbled between 10% to 70% in the last seven days, data from CoinGecko shows

The bill specifies that DAOs are by default classified as a business entity, meaning that these community-led groups can expect to pay up on tax day

The government rejected two bills to tax crypto gains in 2022, but a new bill is already on the books to tax and regulate cryptoassets in the near future

Frequently seen as a crypto haven in Europe up to now, Portugal is considering taxing crypto gains in the near future

The ATO is once again renewing calls for Australian investors to correctly report their crypto capital gains or losses

Germany’s crypto ecosystem has finally received nationwide tax guidance, with one EU policy expert labeling it a huge success

Indonesia will begin taxing crypto transactions by May 1, charging 0.1% on both VAT and income tax

Some fear India’s crypto tax, which took effect on Thursday, will cause the nascent industry’s companies to relocate offshore

Industry participants were hoping the outcome would exempt unclaimed crypto staking rewards from taxes

Colorado is hoping to become more crypto friendly with a new tax proposal, but investors should understand the complications

Australia’s Kova Tax has received a grant to build out its Syla platform that will allow traders to track and report their crypto trades

Four US representatives in 2020 wrote to the IRS in a bid for clarity around tax payments for crypto staking

Thailand has dumped plans to impose a crypto withholding tax in a move that has been welcomed by the kindom’s traders

Indians will not be allowed to deduct expenses or allowances when calculating crypto income except the cost of acquiring them

Proposed tax would levy a 20% capital gains on cryptocurrency transactions. Critics say this has driven a significant amount of volume offshore.

Inclusion of new language narrowing definition of a crypto broker does not pass ‘unanimous consent’ procedure.

Despite regulatory scrutiny in the Senate, the recent bull run continues for bitcoin and ethereum.

A $1 trillion bipartisan infrastructure bill has moved closer to passing, but senators still need to address two competing cryptocurrency-related amendments that seek to clarify tax reporting requirements.

Media reports say Treasury Secretary Janet Yellen is one of the loudest voices against an amendment to the infrastructure bill which would remove problematic language requiring cryptocurrency tax reporting.

The White House comes out in support of the original provision which requires digital asset brokers to disclose investors’ gains earned from cryptocurrency. Senate to vote as early as Saturday, August 7.

Senators Wyden, Lummus, Toomey propose slimming down the definition of crypto broker to make tax reporting requirements more narrow

Portion of bill outlines “impossible-to-fulfill” reporting requirements, blockchain associations say