tax

Security Laws Are Not Ready For The Digital Era4

OECD introduces tax reporting framework for crypto industry

0xMain
June 10, 2023

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The Organization for Economic Cooperation and Development (OECD) has introduced a new tax framework specifically designed for crypto. OECD unveiled its Crypto-Asset Reporting Framework (CARF) at the end of a two-day ministerial-level meeting of its council held between June 7 and 8. Our...

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US debt ceiling deal cancels 30% bitcoin mining tax

0xMain
May 30, 2023

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A tentative deal aimed at averting a US government default on its debts has relieved cryptocurrency miners, particularly bitcoin (BTC) ones. Ohio Representative Warren Davidson has revealed that the proposed agreement includes removing a controversial tax on the energy consumption of crypto miners....

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MetaMask revamps terms of use to include a vital tax update

0xMain
May 21, 2023

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MetaMask, a popular Ethereum native non-custodial wallet, has updated its terms of use and now has the right to “withhold taxes where required”. This change in their service is why the cryptocurrency community on Reddit is beginning to question ConsenSys’ decision to change their terms of use. ...

Bit Digital turns to Iceland as a tax haven for crypto

0xMain
May 19, 2023

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In response to the Biden administration’s proposed crypto mining tax, Bit Digital has strategically moved a significant portion of its mining machines to Iceland and Canada while keeping the majority within the United States. The company’s decision to establish a presence in Iceland...

EU makes progress on plan to share cryptocurrency tax data

0xMain
May 10, 2023

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The E.U.’s Digital Finance Package proposal, known as DAC8, has recommended that crypto asset service providers report their clients’ transactions to help combat tax-related criminal activities such as tax evasion. This move is part of the E.U.’s effort to tighten regulations on cryptocurrency...

Crypto tax liability reduction strategies may be changing in US

0xMain
May 10, 2023

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Glassnode has revealed some effective strategies that could enable crypto investors to minimize their tax liability, including relocation, self-directed Individual Retirement Accounts (IRAs), and tax loss harvesting, as the Biden administration gears up to address the “loophole” in wash sale rules to prevent...

Biden’s proposed $18b crypto tax leaves unanswered questions

0xMain
May 10, 2023

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The president of the United States, Joe Biden, recently claimed that the government is losing $18 billion due to cryptocurrency tax loopholes. However, there is some confusion within the...

Kennedy Jr. is against Biden’s crypto tax plan, raises privacy concerns about CBDCs

0xMain
May 6, 2023

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Robert Kennedy Jr. has spoken out against President Biden’s proposed 30% tax on cryptocurrency mining, emphasizing the importance of financial privacy and the need to support innovation within the...

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Kenya proposes bill to tax crypto and NFT transfers

0xMain
May 5, 2023

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Kenya’s lawmakers are considering introducing a new bill that would impose a tax on cryptocurrency and non-fungible token (NFT) transfers and monetized online content. On May 4, The Finance Bill 2023 was presented to the Kenyan parliament proposing the creation of a digital...

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White House advisers rekindle 30% energy tax on digital mining notion

0xMain
May 3, 2023

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied To mitigate the purportedly negative effects of the cryptocurrency mining business on the environment, Joe Biden’s administration has rekindled its support for imposing a 30% digital asset mining energy...