Tag: Taxes

Reporting cryptocurrency when filing taxes can help investors offset their losses. 2022 was tough for the crypto market. A recent report published by security services platform Immunefi found that the crypto industry lost a total of $3.9 billion in 2022. Detrimental losses such as these are often concerning for crypto investors, yet there may be a silver…

TFL claimed that the airdrop receiver refused to return the funds, while the user claimed that he was on the verge of settlement with the firm when the former decided to run a smear campaign. Terraform Labs (TFL), the firm behind the defunct algorithmic stablecoin TerraUST (USTC), and its co-founder Do Kwon is back in…

The Organisation for Economic Co-operation and Development (OECD) published the long-awaited crypto tax framework on Oct.10. The document is meant to formalize information sharing between the 38 member countries, through automatically sharing crypto-related taxpayer information between jurisdictions. According to a release, the information sharing intends to, “target any digital representation of value that relies on…

In South Korea, recipients of crypto airdrops could be taxed with an up to 50% fee. A government official said that crypto airdrops count as gifts under tax legislation. Airdrops, or blockchain-based token giveaways, are one of the ways crypto companies market their initiatives. South Korea said in 2021 it will start taxing inherited or…

The Kazakhstan authority has introduced a new law regarding cryptocurrency mining taxation. The officials published a statement saying that the signed law is expected to come into effect in January 2022 and to generate billions of tenge to the national budget. Kazakhstan joins Iran in taxing the mining industry, given the lucrative potential for business….