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Tax
Crypto Exchange Binance Introduces Tool for Calculating Taxes on Transactions
The tool, initially available to users in Canada and France, supports reporting of up to 100,000 transactions.
India’s Budget Disappoints
India instituted a 30% tax on profits and a 1% tax deducted at source (TDS) on all transactions for the crypto sector last year. Traders' hopes of the tax change in 2023 dashed. That story and other news shaping the cryptocurrency world in this episode of "The Daily Forkast."
India Keeps Restrictive Crypto Tax Rules in 2023 Budget
India instituted a 30% tax on profits and a 1% tax deducted at source (TDS) on all transactions for the crypto sector in 2022. Now the world's largest democracy is keeping its restrictive crypto tax rules unchanged in 2023 as Finance Minister Nirmala Sitharaman did not mention crypto, virtual digital assets, blockchain or central bank digital currencies (digital rupee) while unveiling the nation’s budget. CoinDesk Global Policy and Regulation Managing Editor Nikhilesh De discusses how this could impact crypto adoption and trading volumes in the country.
Bitcoin 'Going In the Right Direction': 21.co CEO
21.co co-founder and CEO Hany Rashwan explains bitcoin (BTC)'s uptick in January, citing December's tax loss harvesting and crypto's unique nature. Plus, his outlook on the crypto markets in 2023. "Whatever disruptions may happen ... it will not be catastrophic."
Crypto India Looks for Relief but Holds Out Little Hope in Budget Speech
India is unlikely to make any crypto related tax cuts, multiple sources said.
Why Tax Deferral for Crypto-to-Crypto Like-Kind Exchanges Would Be Good for Us All
The U.S. Congress should update the tax code to treat digital assets like other types of valuable property such as real estate.
Crypto Tax Proposed by Lawmakers to Fund EU Budget
Taxing capital gains, mining or crypto transactions are all being examined to fund the European Union’s $185 billion annual spending.
Indian Budget Ahead
Crypto industry hopes for tax reductions. That story and other news shaping the cryptocurrency world in this episode of "The Daily Forkast."
Deloitte Tax Partner on Digital Currency, State of Crypto Tax
Rob Massey, Deloitte Tax LLP Partner, Global & US Tax Blockchain & Digital Assets Leader, joins "First Mover" at the annual World Economic Forum in Davos, Switzerland, to discuss restoring trust in the crypto and blockchain industry following a year of contagion. Plus, his response to Bank of America's statement that digital currencies are the natural evolution of money and payments. And, the challenges posed by current tax policies in the US.
Indians Moved Over $3.8B to Foreign Exchanges Since Crypto Tax Rules
A study from the Esya Centre provides the first monetary estimate of what effect the country's crypto taxes has had on domestic trading platforms.
