The IRS will allow crypto holders on centralized exchanges to bypass strict tax regulations in 2025, preserving flexibility in reporting and tracking digital asset sales. IRS Announces Temporary Relief for Some Crypto Holders The Internal Revenue Service (IRS) has issued a temporary relief measure, which is expected to benefit cryptocurrency holders using centralized finance (cefi) […]
U.S. Congressman Matt Gaetz has introduced a bill to allow federal income taxes to be paid with bitcoin. Inspired by El Salvador’s success with the cryptocurrency, the lawmaker believes this move will modernize the U.S. tax system, promote innovation, and maintain America’s technological leadership. Lawmaker Proposes Bill to Allow Federal Income Taxes to Be Paid […]
In 2023, Binance generated revenues exceeding $ 20 billion in Nigeria; however, the company has not paid taxes, a government minister disclosed. The Nigerian official also seemed to refute U.S. lawmakers’ claims that Tigran Gambaryan, an imprisoned Binance executive, is being held hostage by his government. Tigran Gambaryan Detained on Allegations of Contributing to …
Indian Prime Minister Narendra Modi has reappointed Nirmala Sitharaman as Finance Minister. She remains instrumental in shaping India’s economic policies, including cryptocurrency regulation and taxation. Nirmala Sitharaman Reappointed as Finance Minister Indian Prime Minister Narendra Modi has reappointed Nirmala Sitharaman as Finance Minister, extending her tenure that began in 2019. Sitharaman, who delivered her sixth […]
Turkish Treasury and Finance Minister Mehmet Simsek has stated that there are no current plans to impose taxes on profits from cryptocurrencies. However, he mentioned that the government is considering implementing a “very limited” transaction tax on these assets, though the specifics have not been determined. This statement was made to clarify earlier reports by […]