Regulation
Biden’s 2025 budget targets crypto tax loopholes, expands digital asset oversight
The proposed rules targetting digital assets are expected to generate nearly $10 billion in additional tax revenue by 2025.
Mike Dalton 3 min read Taxes News
Read crypto tax news, reporting rules, compliance guidance, audits, and policy changes affecting digital asset holders and businesses.
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Mike Dalton 3 min read 
Regulation
South Korea’s ruling party proposes delay in crypto taxation as election pledge
The decision aligns with the government and legislative consensus to prioritize regulatory groundwork before enforcing taxation on virtual assets.
Taxes
IRS adds cryptocurrency income tax question to four more tax forms
The question applies to all taxpayers and is unrelated to a controversial $10k rule.
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Taxes
IRS says controversial $10k reporting rule doesn’t currently apply to crypto
The U.S. must create new regulations before the rules apply beyond cash.
Exchanges
Indians are turning to local exchanges amid clampdown on foreign platforms
India has now banned foreign exchanges from operating in the country by blocking access to their websites and new application downloads.
Regulation
UK crypto investors warned of tax return penalties ahead of January deadline
Failure to submit the assessment promptly can incur a fixed penalty of £100, irrespective of tax liabilities.
Taxes
Crypto tax rules now require reporting of transactions over $10k
New IRS mandate for crypto transactions over $10,000 sparks concern and legal challenge from CoinCenter.
Adoption
New FASB rules pave the way for Bitcoin on corporate balance sheets at ‘fair value’
FASB's updated standard streamlines Bitcoin accounting, aligning it with other financial assets for corporate reporting.
Taxes
IRS targets tax crimes in crypto crackdown
IRS-CI reports a pivot to tackling cryptocurrency tax violations as among the unit's primary investigation focus.
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Taxes
UK investors may be liable for up to 20 years of ‘unpaid tax on cryptoassets’
Regulation
Spain mandates disclosure of foreign-held crypto assets over €50,000 for tax purposes
Taxes
Kraken to turn over select customer data to IRS after July court loss
Politics