Abstract

This report summarizes major developments in taxation, accounting, and regulation in the global crypto asset industry during the first half of August 2025.

Tax: The Ukrainian parliament plans to review a crypto regulatory bill at the end of August to establish a European-standard digital asset framework, allowing individuals to legalize existing assets with a total tax rate of 10%. The White House report urges the IRS to clarify the timing of taxation on mining and staking income. Starting in August, Indonesia will raise the domestic exchange seller’s tax to 0.21% and the overseas exchange seller’s tax to 1%, while exempting buyers from VAT. The Uniswap Foundation proposes to establish a new legal entity under Wyoming’s DUNA framework to settle past tax liabilities and provide a legal basis for a protocol fee mechanism.

Accounting: The U.S. accounting profession supports the SEC’s efforts to develop a regulatory framework for crypto assets, emphasizing that accounting guidance should be refined under the US GAAP system to enhance transparency and consistency. Stablecoin payroll is being adopted more widely among global teams, reducing costs, and improving efficiency, but strict IRS reporting and compliance requirements must be followed.

Supervision : The United States plans to issue an executive order to open 401(k) plans to crypto investments and update the types of assets eligible for investment. The White House recommends clearly defining the division of regulatory responsibilities between the SEC and the CFTC to reduce enforcement conflicts. The Philippine SEC identified OKX, Bybit, KuCoin, and other unregistered operators, warning of possible enforcement actions and app store delisting. Australian prosecutors charged four men with assisting in laundering AUD 35 million in crypto through offshore accounts and exchanges from investment fraud proceeds.

Part I Tax

1. Indonesia to Increase Cryptocurrency Transaction Taxes(8.1)

Indonesia will raise the seller’s tax on domestic cryptocurrency exchanges from 0.1% to 0.21%, and on non-domestic exchanges from 0.2% to 1%. Click here to read the original article.

2. White House Calls for Delaying the Recognition of Mining Income (8.5)

The White House recently released a 168-page report outlining recommendations on how to regulate cryptocurrencies. At present, crypto miners must pay income tax when mining Bitcoin, and if the price rises, they must also pay capital gains tax upon sale. Delaying income recognition until the time of sale could avoid this double taxation. Click here to read the original article.

3. Ukraine Promotes EU-Standard Crypto Legislation and Asset Legalization Plan (8.8)

The Ukrainian parliament plans to hold its first review of a cryptocurrency regulatory bill at the end of August, aiming to establish a digital asset legal system aligned with European standards. A key provision allows individuals to legalize previously held digital assets by paying a 5% personal income tax and a 5% military tax. Click here to read the original article

4. Uniswap Foundation Proposes Establishing Legal Entity to Address Tax and Compliance Requirements (8.11)

The new legal entity will retain the existing governance structure of the Uniswap DAO and place it within a legal wrapper, enabling it to hire service providers, enter into contracts, and fulfill regulatory and tax compliance obligations. The Uniswap DAO will become the largest decentralized organization to adopt this legal framework. Under the terms of the proposal, it will be allocated USD 16.5 million worth of UNI tokens to settle past tax obligations and fund a legal defense budget. Click here to read the original article.

Part II Accounting

1. U.S. Accounting Sector Expresses Support for SEC in Developing a Crypto Asset Regulatory Framework (8.1)

The AICPA, the Center for Audit Quality, and the Big Four accounting firms all expressed support for the SEC’s working group on crypto assets, stating that accounting guidance for crypto assets should continue to be refined under the US GAAP system to enhance transparency and consistency, and to reduce discrepancies between regulatory enforcement and corporate application. Click here to read the original article.

Part III Supervision

1. White House Proposes Clear Division of Market Regulatory Responsibilities Between SEC and CFTC (8.4)

White House’s Digital Asset Working Group released a report recommending that the CFTC be given jurisdiction over the spot cryptocurrency market, while the SEC continues to regulate security tokens, to resolve enforcement overlaps. Click here to read the full article.

2. Philippine SEC Warns Multiple Unregistered Crypto Exchanges (8.5)

OKX, Bybit, KuCoin, Kraken, and seven other exchanges were accused of providing services to Philippine users without registering under the new regulations. The SEC warned that their operations are unauthorized and pose risks to investor protection, and that enforcement actions and app store delisting could follow. Click here to read the full article.

3. Four Australians Charged in AUD 35 million Crypto Money Laundering Case (8.7)

In Australia, four men, including former lawyer Podaridis, were charged with assisting an investment scam in 2021, laundering victims’ funds through offshore accounts and cryptocurrency exchanges. The case involved forging high-quality prospectuses to lure investments. Click here to read the full article.

4. U.S. Plans to Open 401(k) to Cryptocurrency Investments (8.8)

A new executive order will require the Department of Labor to assess the feasibility of including cryptocurrencies in retirement plans and to update the rules on asset categories eligible for investment, expanding traditional 401(k) investment options to include alternative assets such as Bitcoin. Click here to read the full article.

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