Tags: taxes

Cryptocurrency and Taxes: A Guide for the 2023-2024 US Tax Season

The asset management firm declares that the Grayscale Bitcoin Trust (GBTC) falls under the grantor trust structure for tax considerations.

Under the new taxes, Brazilian citizens will pay the state up to 15 of their crypto profits.

The U.S. FASB has decided that crypto assets will be represented at their fair value in accounting beginning late next year.

The Capital Markets (Amendment) Bill will now be introduced to the lower chamber of Parliament in Kenya.

According to the fiscal year 2023 report, the IRS unit investigated failures to disclose crypto holdings and report on capital gains for transactions.

Spain and Brazil are chasing cryptocurrency stored abroad, while the U.K. wants taxes paid for crypto assets that weren’t previously declared.

Law firm Cadena Legal said that the guidance released by the Australian Taxation Office is “non-binding” and must be treated as “toilet paper.”

“I am actively telling people they are best ignoring it,” Cadena Legal’s founder tells Cointelegraph after controversial new tax guidance on DeFi was released in November.