This report summarizes tax, accounting, and compliance policy developments in the global cryptocurrency industry for the second half of December 2024. On the tax front, The IRS has classified DeFi front-ends as brokers for tax reporting. The US reiterated its position in a tax dispute case, arguing that rewards...
Enhance Risk Awareness and Eliminate Fluke Mentality Although the tax authorities still have great uncertainty about whether and how to tax at this stage, the relevant tax regulations are still in a nascent stage. However, in the economic aspect of taxation, there are significant links in the cryptocurrency value...
In the rapidly evolving landscape of cryptocurrency, This article delves into the twelve best crypto tax-free countries offering significant tax advantages for crypto investors, highlighting the importance of favorable crypto tax policies for financial savings, regulatory benefits, and ease of transactions. Name of Country Unique Feature About It Being...
1. Introduction The Republic of India, the largest country in the South Asian subcontinent, spans approximately 2.98 million square kilometers, making it the 7th largest country in the world by area, with a population of 1.44 billion. Since 2021, India has emerged as the fastest-growing major economy globally, maintaining...
Calculating the cost basis of cryptocurrency for tax purposes involves considering purchase prices, transaction fees and events such as hard forks or staking rewards. In the context of cryptocurrencies, “cost basis” refers to the initial outlay paid for digital assets. It is an important consideration when calculating capital gains...
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