The South African Revenue Service has clarified its stance on the treatment of cryptocurrency tax, saying current rules suffice.
From depreciation of rig equipment to a second reporting and tax requirement after mined coins are sold, tax rules for miners can get complicated.
U.S. income tax treatment of forks is unclear. A conservative approach would be to treat the receipt of new cryptocurrency as taxable ordinary income.
The prudent individual or business must keep up with regulation and develop a process to organize data related to trading cryptocurrency. Here's how.
Arizona's crypto tax bill is still moving forward, despite seeming to have stalled in the Senate last month.
Most individuals with unreported cryptocurrency income have options available to mitigate and defend against civil penalties and criminal prosecution.
The move comes after the Spanish finance ministry called the use of cryptocurrencies in organized crime a "pressing challenge."
The MFSA issued a warning against Stocksbtc, denying claims that the startup is registered with the regulator and based in Malta.
There is something extraordinarily cruel, crazy even, in the IRS’s approach of treating virtual currencies as property for tax purposes.
Cryptocurrency reminds us that tax and other rules need to be fluid, as inaction or inappropriate responses can halt or slow technological advances.
If cryptocurrency gains acceptance as a means of exchange, it’s sure to raise the ire of governments hungry for revenue from sales taxes.
Active crypto traders can qualify for trader tax status (TTS) to deduct business and home-office expenses. And there might be an additional benefit.
Thailand is expected to enact a law soon that will mandate cryptocurrency traders for both value added tax as well as capital gain tax.
For cryptocurrency traders, the ability to use like-kind exchange rules to avoid U.S. tax on trades is a bit of a “good news/bad news” story.
Calculating tax exposure is always a data-heavy business process. With regular assets, this process is simple. In cryptocurrency, it's anything but.