Key Takeaways China’s foreign exchange regulator, the State Administration of Foreign Exchange (SAFE), has introduced new rules requiring banks to closely monitor and report crypto-related transactions that may pose financial risks. As per reports, the regulations aim to prevent illicit…
Key Takeaways The United States Internal Revenue Service (IRS) has provided temporary relief for crypto holders by postponing the enforcement of a new rule regarding how gains and losses are calculated for tax purposes. This reprieve, which applies until December…
Key Takeaways The Czech Republic is moving toward a more streamlined tax framework for crypto transactions with proposed pro-crypto legislative changes. Prime Minister Petr Fiala announced plans to exempt digital asset sales from capital gains tax if the assets are…
Key Takeaways Russia’s Federation Council has passed a significant new bill that outlines a taxation framework for digital currencies, following a similar approval in the State Duma. The law imposes a 13%–15% personal income tax on crypto sales. As per…
Key Takeaways The Australian Taxation Office (ATO) has clarified its position on the capital gains tax (CGT) treatment of decentralized finance (DeFi) and the wrapping of crypto tokens, emphasizing its commitment to taxing Australians on capital gains during the wrapping…
Key Takeaways The IRS has released its final draft of new cryptocurrency broker reporting requirements, with a clear mandate for industry participants. On June 28, the IRS and the Treasury Department outlined new rules requiring most crypto brokers to disclose…
Key Takeaways In a significant development, Congressman Drew Ferguson and Wiley Nickel introduced the Providing Tax Clarity for Digital Assets Act to the U.S. House of Representatives on April 30. The bipartisan effort seeks to establish clear guidelines regarding the…
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