Crypto Tax

A recent study by the Swedish tax company Divly revealed that just 0.53% of cryptocurrency traders worldwide reported taxes on their transactions in the previous year. The average proportion of people who follow the rules differs among…
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Neel Kashkari, the Federal Reserve Bank of Minneapolis President, believes the whole idea of cryptocurrency is “nonsense”. He said FTX’s case is not just the case of one fraudulent company in a serious industry. Kashkari said the entire…
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For the first time in Kenyan history, the Kenya Revenue Authority (KRA) has suggested bringing severe restrictions to the crypto trade by proposing to collect taxes from transactions made in all exchanges and expecting MPs to adopt the…
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Some prominent Japanese Crypto-asset firms have recently requested the Japanese government to strengthen their tax reforms. The firms claimed that the present-day Japanese tax reforms are not in sync with the tax rules of the rest of the…
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As the crypto industry gets bigger and brighter, a string of small British overseas territories is offering crypto investors incentives to move their money from more traditional tax havens. Located off the French coast, Jersey and Guernsey…
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A tax consultation firm based in South Africa, the Tax Consulting SA, has responded to the announcement that was recently made by the central bank. They revealed that they will be regulating cryptocurrency within the next twelve to eighteen…
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The government of South Korea has decided to postpone the 20% tax associated with gains in cryptocurrency, by another two years. This 20% tax when it came to crypto gains was seen as controversial. It was supposed to initially come into…
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Portugal’s Assembleia de Republica, the country’s Congress, found itself in crypto news recently after it rejected two tax bills, which if passed would have imposed taxes on cryptocurrencies. The Backdrop to the Bill Rejection in Portugal…
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The Japanese prime minister Fumio Kishida believes Web3 has the potential to spark economic growth. As such, he highlighted that he could be open to reforming Japan’s crypto tax laws and pushing for pro-business legal reform. Speaking to…
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Yoon Seok-yeol, South Korea’s newly elected president, is looking to defer taxation on crypto investment gains until a new set of regulations - namely the Digital Asset Basic Act is enacted. The crypto tax was initially set to come into…
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