Next week, new regulations are expected to be finalized that would mandate crypto companies, including those located outside the EU or dealing in non-fungible tokens, to register with tax authorities.
Officials are confident that next week, finance ministers will reach a formal agreement on legislation that permits the exchange of data regarding crypto and NFT assets among tax authorities.
The country's tax authority is currently soliciting input from the public regarding a set of new regulations intended to alleviate the tax obligations for those who engage in cryptocurrency transactions.
At Consensus 2023, Julie Foerster, who is spearheading the agency's efforts on cryptocurrency taxation, underscored the significance of actively engaging and working together with the community.
On Sunday in Seoul, the founder of StarkWare announced the company's new Recursive validity proof technology.
The OECD is working on new regulations to prevent crypto from being used to hide assets from the taxman.
'Keep in mind that your bitcoin losses cannot be credited against your pay or compensation,' stated ATO associate commissioner Tim Loh.
Venezuela's government is now concentrating its efforts on establishing the bolivar as the country's preferred currency for purchases. Several experts believe that this is a risky investment in a country that has just emerged from hyperinflation and is still experiencing high inflation. However, the implementation of a 3% tax on foreign currency and cryptocurrency expenses is having some effects in this area.