South Korean legislators are reportedly edging closer to imposing a 20% capital gains tax on digital currencies and change them from currencies to commodities.
South Korea has proposed levying taxes on digital currency income starting 2021. The country will also tax digital currency processing operations and ICOs.
The IRS has called on qualified firms to come onboard and assist it to calculate whether U.S digital currency traders are paying their taxes on their holdings.
The Spanish tax authority is stepping up its digital currency taxation efforts, with a report indicating it’ll quadruple its notices to digital currency owners.
Tax experts in South Korea have proposed a gradual tax imposition for crypto, starting with a low level tax trading before the transfer income tax application.
The crypto exchange’s largest shareholder learned about the taxes days ago after acquiring a majority stake in the firm, intends on seeking legal redress.
Jack Dorsey believes social media platforms shoud adapt a decentralized and open source standard, and Twitter is funding the team that will work on this.
Kazakhstan will eliminate all taxes on cryptocurrency mining and will only tax cryptos once they are sold for fiat currencies.