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US Senate Finance Committee Seeks Input on Taxation of Digital Assets
The US Senate Finance Committee has issued an open letter to the digital asset community and other interested parties, seeking their input on the taxation of digital assets. The letter, dated July 11, 2023, was signed by Chair Ron Wyden and Ranking Member Mike Crapo.
PwC Expert's Take: What Are the 3 Grey Areas to Crypto Taxation in Hong Kong?
The Inland Revenue Department (IRD) of Hong Kong took a step further to provide clarity in taxing digital assets. In the recent press release titled “LCQ20: Regulation of virtual asset investment activities”, James Lau, the Secretary for Financial Services and the Treasury answered the queries raised by the Hon Wu Chi-wai on taxation of virtual assets, tax evasion of virtual asset-related business and latest effort to regulate virtual assets by the Hong Kong Securities and Futures Commission (SFC).
