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3 weeks ago | 
cryptonews.com.au | Jody McDonald |Cryptocurrency Tax
The release of the ‘Board of Taxation’s Review of the tax treatment of digital assets and transactions in Australia’ last week could signal more active enforcement of crypto tax compliance, according to Shane Brunette, CEO of Crypto Tax Calculator. The Government’s review didn’t propose any new crypto-specific tax legislation, instead it reaffirmed that crypto is covered by existing tax laws.
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1 month ago | 
cryptonews.com.au | Jose Oramas |Cryptocurrency Law |Cryptocurrency Tax
Ohio lawmakers introduced a bill to exempt crypto, stablecoins, and NFTs from state taxes when used as payment, ensuring parity with fiat transactionsThe bill clarifies that mining, staking, and crypto swaps won’t be classified as “money transmission” and protects mining in industrial zones. Nearly 30 states have explored Bitcoin reserves or crypto-related policies, but most efforts have failed due to internal political disagreements.
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2 months ago | 
cryptonews.com.au | Jose Oramas |Cryptocurrency Tax
Dan Morehead is under federal investigation for allegedly misapplying Puerto Rican tax exemptions to classify US$850M+ in profits as tax-free. The US Senate Finance Committee is cracking down on wealthy individuals using Puerto Rico’s tax breaks to avoid US taxes, reinforcing that most gains remain taxable. Pantera Capital founder Dan Morehead is under federal investigation for potential tax law violations following his move to Puerto Rico, a US territory known for its tax incentives.
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Jan 16, 2025 | 
cryptonews.com.au | Cryptocurrency Tax
The potential US Treasury Secretary under Donald Trump, Scott Bessent, has claimed there is ‘no reason’ for a USD central backed digital currency. Bessent argued the US economy was strong and diverse enough to not require a CBDC. Speaking at a Senate Finance Committee meeting, Bessent turned his attention to tax cuts – largely focussing on the proposed 2017 Tax Cuts and Jobs Act.
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Jan 7, 2025 | 
cryptonews.com.au | Jose Oramas |Cryptocurrency Tax
Frank Richard Ahlgren III, an early Bitcoin investor, was sentenced to two years in prison for tax fraud. Ahlgren owes US$1M in restitution for underreporting capital gains from selling US$3.7M worth of Bitcoin. A federal judge prohibited Ahlgren from transferring or selling assets without court approval. Frank Richard Ahlgren III has made history by becoming the first US citizen convicted of tax crimes tied to… cryptocurrency sales.
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Dec 8, 2024 | 
cryptonews.com.au | Jose Oramas |Cryptocurrency Tax |Cryptocurrency Law
Starting January 1, 2025, long-term crypto holdings in the Czech Republic held for over three years will be exempt from capital gains taxThe law aligns with the EU’s MiCA framework and applies rules similar to securities, incentivising long-term investments but raising concerns over unclear guidelines. Despite concerns, the unanimous approval showcases the Czech Republic’s support for crypto innovation, joining nations like Switzerland and UAE in favourable crypto taxation.
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Nov 29, 2024 | 
cryptonews.com.au | Jody McDonald |Cryptocurrency Tax
A proposal from Hong Kong’s Financial Services and the Treasury Bureau has suggested exempting cryptocurrency held by hedge funds, private equity funds and eligible family offices from capital gains tax. It’s part of a broader plan to attract investment to the city that would provide capital gains tax exemptions for multiple assets including overseas real estate, carbon credits and private credit.
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Nov 7, 2024 | 
cryptonews.com.au | Aaron Feuerstein |Cryptocurrency Tax
Michigan has announced that Detroit will accept cryptocurrency for taxes, becoming the largest US city to do so. Detroit’s crypto payment platform, managed by PayPal, aims to enhance accessibility and operational efficiency. Other states like Louisiana have also launched crypto payments for services in 2024, while some cities are accepting it for certain transactions. The adoption of crypto continues to accelerate.
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Oct 28, 2024 | 
cryptonews.com.au | Aaron Feuerstein |Cryptocurrency Tax
A University of Queensland study reveals a significant portion of crypto owners are unaware of their tax obligations. The study also shows that over $171 million was lost to crypto scams in 2023, highlighting the need for better financial education. Useful guides on crypto tax software and specialist accountants in Australia are available to help owners during tax season. Options like ETFs and SMSFs offer alternative ways for Australians to manage and store crypto with potential tax benefits.
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Oct 6, 2024 | 
cryptonews.com.au | Ben Knight |Cryptocurrency Tax
The United Arab Emirates has updated its tax legislation to remove the nation’s 5% VAT fee from most crypto transfers. The exemption will apply to Virtual Asset conversions and transactions. Eligible businesses can claim a tax return on transfers as far back as January 1, 2018. The United Arab Emirates continues cementing itself as a crypto hub in the Middle East after approving legislation that will remove Value Added Tax from digital asset transfers.
