This report summarizes highlights in the global cryptocurrency industry in the first half of February 2025 in the areas of tax and compliance. The latest updates in taxation primarily come from Asia. In India, an amendment to the Income Tax Act mandates that cryptocurrency holders must report related profits...
Related News: The UK Treasury has amended the Financial Services and Markets Act (FSMA), with the revision taking effect on January 31. This amendment excludes cryptocurrency staking from being classified as a collective investment scheme (CIS). As a result, staking cryptocurrencies such as Ethereum (ETH) and Solana (SOL) will...
Related News: According to media reports, following Hong Kong’s first acceptance of Bitcoin (BTC) as proof of investment immigration assets in October last year, another favorable policy has emerged. On February 7, 2025, an applicant successfully obtained investment immigration approval using HKD 30 million worth of Ethereum (ETH). Additionally,...
Related News In February this year, the U.S. Senate Finance Committee launched a tax investigation into Dan Morehead, the founder of cryptocurrency venture capital firm Pantera Capital, accusing him of cashing out over $1 billion in assets after relocating to Puerto Rico, potentially violating federal tax laws. The investigation...
1. Introduction The stance of Taiwan of China on cryptocurrency is characterized by both openness and prudence. In recent years, the use and trading of crypto assets in Taiwan have gradually increased, with financial institutions and related enterprises becoming more actively involved. Recognizing the high speculative nature of crypto...
On January 18, U.S. President-elect Donald Trump announced the launch of his exclusive cryptocurrency meme coin, $TRUMP, through social media. The news instantly ignited the cryptocurrency market, with $TRUMP’s market capitalization surpassing $24 billion on its first day, making it the undeniable focal point of the industry. From retail...
This report combs through the key developments in global crypto compliance policy in the first half of January 2025. In terms of taxation, the United States Internal Revenue Service (IRS) has implemented new regulations starting from January 1, 2025, requiring cryptocurrency transactions to follow the FIFO (First-In-First-Out) accounting rule, unless alternative...
The OECD update was released on 29 February 2024, in which the OECD Secretary-General presented a report to the G20 Finance Ministers and Central Bank Governors, highlighting the progress made so far by the OECD and G20 in implementing the two-pillar solution. The progress report on CARF is as...
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