US Senator Cynthia Lummis Drafts Standalone Crypto Tax Bill
U.S. Senator Cynthia Lummis, a long-time advocate for digital assets, is taking a bold step forward in the crypto regulation space by drafting a new standalone bill aimed specifically at addressing crypto-related taxation. The legislative effort marks a shift from previous attempts to include crypto tax provisions in larger, more complex financial packages, offering instead […]
Hong Kong To Follow Trump’s Lead on Crypto Tax Exemptions
Hong Kong government is considering a crypto tax exemption for equity and hedge funds in response to the strong industry push after Donald Trump’s victory. Hong Kong has announced plans to exempt cryptocurrency taxes for private equity funds, hedge funds, and other investment vehicles aimed at high-net-worth individuals (HNIs). This initiative is part of the region’s […]
Japan Party Leader Pledges Crypto Tax Cuts if Elected
Yuichiro Tamaki, leader of Japan’s Democratic Party for the People, promised to lower crypto tax rates to 20% if elected, aligning them with stock market taxes. Yuichiro Tamaki, the leader of Japan’s Democratic Party for the People (DPP), has submitted a crypto tax proposal that would reduce the tax rate on crypto gains to 20% […]
Treasury and IRS Set Broker Rule, Defers DeFi Decision
The US Treasury and IRS have announced new crypto broker tax requirements for 2025, deferred DeFi and wallet regulations, and aim to harmonize reporting with traditional brokers. The Internal Revenue Service (IRS) and the US Department of the Treasury have issued new tax guidelines for cryptocurrency exchangers, which will mandate transaction reporting beginning in 2025. […]
Turkey Introduces 0.03% Tax on Crypto Transaction
Turkey will implement a 0.03% transaction tax on crypto trading, which aims to rectify the budget deficit brought about by the earthquakes of 2023. Bloomberg reported that the proposed changes could result in a substantial windfall for those facing challenging economic conditions through a transaction tax on crypto trading. “The ministry is considering a 0.03% […]