Russian Government Eyes $13 Billion in Taxes From Crypto Economy

Russian Government Eyes $13 Billion in Taxes From Crypto EconomyAuthorities in Moscow expect to collect more than $13 billion as tax payments from the Russian crypto market, according to a government document quoted by media. The estimate comes as Russian institutions are holding discussions on the future of cryptocurrencies in the country. One Trillion Rubles to Enter State Coffers as Crypto Taxes, Russian Analysts […]

Russian Government Approves Plan to Regulate Cryptocurrency

Russian Government Approves Plan to Regulate CryptocurrencyThe federal government in Moscow has adopted a concept for regulating the Russian crypto space as early as this month. The new framework is expected to place cryptocurrency flows under state oversight, introduce strict obligations for market participants, and ensure investor protection. Russian Authorities Move to Legalize Crypto Economy The Russian government “has determined the […]

Argentinian Tax Authority Will Be Able to Confiscate Digital Wallets to Collect Tax Debts

argentinianThe Argentinian Tax Authority (AFIP) will now be able to confiscate the assets that taxpayers have in digital wallets if they have debts with the organization. The recommendation for attorneys of this institution to include these digital accounts was made last year, but the execution of debt collection was suspended during the Covid-19 pandemic period. […]

Spain Modifies Tax Model 720, Used to Declare Cryptocurrency Holdings Abroad

model 720The Spanish parliament has introduced an amendment to the tax model 720 used to declare cryptocurrency and other holdings abroad, softening some of the penalties associated with it. The modification, which has not yet been approved, changes some of the harsher penalties that were declared illegal by the Court of Justice of the European Union […]

Puerto Rican Treasury Department Aims to Tax NFT Sales

NFTThe Treasury Department of Puerto Rico has published a working document that amends the current “Sales and Usage Tax” to include NFT sales. While this proposal has yet to be approved, experts believe the inclusion of NFTs in this reform brings validation to the asset class, but also that the application of this regulation presents […]

Spanish Treasury Postpones the Definition of Crypto Tax Declaration Models Until Next Year

spanishThe Spanish treasury ministry has announced it will postpone the establishment of the complete framework for declaring taxes related to cryptocurrency assets until 2023. While the Spanish government has advanced when it comes to cryptocurrency regulation, the specifics of what will be taxed and in which way are still a mystery for traders and holders. […]

Bitcoin & cryptocurrency news

If Russia regulates the market, Moscow could pocket $13 billion in crypto tax each year

While Moscow continues weighing its options for regulating cryptocurrencies, preliminary estimates suggest that Russian authorities could collect up to $13 billion (1 trillion rubles) from taxing the market, according to The Bell.

The post If Russia regulates the market, Moscow could pocket $13 billion in crypto tax each year appeared first on CryptoSlate.

Crypto Users and Exchanges Must Now Report Transactions in Colombia

colombiaThe Colombian government has issued new regulations that force exchanges and individuals to report cryptocurrency transactions to the UIAF, the anti-money laundering watchdog in Colombia. The transactions must be reported via an online reporting system, and exchanges will be required to issue periodic reports of suspicious transactions made by users. Colombia Tightens AML Controls New […]