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Spain Strengthens Crypto Oversight to Settle Tax Debts
cryptocurrency

Spain Strengthens Crypto Oversight to Settle Tax Debts

Spanish Ministry of Finance is implementing legislative reforms to increase cryptocurrency monitoring, enabling seizure of digital assets for tax debt resolution, aligning with EU regulations.

India's Crackdown on Crypto Exchanges: Binance, Kraken, Mexc, and Kucoin Delisted from App Store
cryptocurrency

India's Crackdown on Crypto Exchanges: Binance, Kraken, Mexc, and Kucoin Delisted from App Store

India's FIU removes apps of major crypto exchanges, including Binance and Kraken, from the App Store, enforcing compliance with anti-money laundering laws amid new crypto tax policies.

Honduras Breaks Ground by Officially Recognizing Bitcoin in Economic Transactions
cryptocurrency

Honduras Breaks Ground by Officially Recognizing Bitcoin in Economic Transactions

Próspera ZEDE, a Honduran special economic zone, officially adopts Bitcoin as a unit of account, signaling a shift towards enhanced financial autonomy and the progressive integration of cryptocurrency in mainstream finance.

South Korean Gaming Giant Wemade Faces $41 Million Tax Bill for Crypto Operations
cryptocurrency

South Korean Gaming Giant Wemade Faces $41 Million Tax Bill for Crypto Operations

South Korean gaming firm Wemade faces a $41 million tax bill for its crypto operations, highlighting the complexities of regulatory compliance in the blockchain gaming industry.

Australian Taxation Office Clarifies CGT on DeFi and Crypto Wrapping
cryptocurrency

Australian Taxation Office Clarifies CGT on DeFi and Crypto Wrapping

The Australian Taxation Office has issued guidelines on the capital gains tax implications for decentralized finance activities and crypto token wrapping, following a recent security breach.

UK Considers New DeFi Tax Regime
cryptocurrency

UK Considers New DeFi Tax Regime

The UK's taxation arm of the Treasury, HM Revenue and Customs, has launched a consultation seeking input from individuals and entities engaged in DeFi activities on a possible new tax regime. Under the proposed changes, crypto used in DeFi transactions would not be treated as a disposal for tax purposes, but a Capital Gains Tax would be triggered when cryptocurrencies are disposed of in a non-DeFi transaction.

Crypto Traders Exodus from Indian Exchanges due to High Tax Rate
cryptocurrency

Crypto Traders Exodus from Indian Exchanges due to High Tax Rate

With Binance app downloads skyrocketing to 429K in August, traders are leaving Indian crypto exchanges based on a fallout triggered by a significant tax change.

South Korea to Introduce 10%-50% Gift Tax on Crypto Airdrops
cryptocurrency

South Korea to Introduce 10%-50% Gift Tax on Crypto Airdrops

Users who receive crypto airdrops in South Korea could be taxed at 10%-50%. The virtual asset gains tax will start taking effect in 2025.

Indonesia Rakes in Approximately $6.8m Monthly from Fintech & Crypto Transaction Taxes
cryptocurrency

Indonesia Rakes in Approximately $6.8m Monthly from Fintech & Crypto Transaction Taxes

Since the rollout of fintech and crypto transaction taxes in May, Indonesia has amassed nearly $6.8 million, according to the nation’s tax official.

High Taxation in Japan is Driving Crypto Businesses Away, Entrepreneur Says
cryptocurrency

High Taxation in Japan is Driving Crypto Businesses Away, Entrepreneur Says

To prevent entrepreneurs from leaving the nation, Japan should minimize corporate taxes on crypto businesses, according to Sota Watanabe, the CEO of Stake Technologies Pte.

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