Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $1,286 trillion. Bitcoin manages to withhold the $30k level after a disappointing week. Ethereum lost almost 3% of its value over the past seven days. XRP decreased by nearly 3% this past week. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector lost over $0.3 billion from the…
Tag: Crypto Tax
Germany Simplifies Laws on Taxation of Crypto Income
Crypto holders in the country will no longer be held to the previous traditional "10-year" rule. Germany’s federal ministry of finance has published a release outlining its plans for taxing crypto and blockchain-related income. Among other things, Germans who sell their crypto holdings after 1 year of possession do not have to pay taxes. Tax-Free After a Year According to Parliamentary State Secretary Katja Hessel, this applies specifically to digital currencies Bitcoin and Ethereum. This is only one of…
2 weeks ago 627
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Florida May Soon Allow Crypto Tax Payments, According to State Governor
Florida Governor Ron DeSantis recently revealed that the state is working on allowing businesses to pay their taxes in crypto. This would make Florida one of the first US states to attempt accepting digital assets for tax payments. Pay Your Taxes in Crypto DeSantis is known to advocate freedom and independence with his policy approach, ranging from covid-19 to the economy. Naturally, he has become a fan of cryptocurrencies like Bitcoin. These assets allow for peer-to-peer transactions with no influence…
2 months ago 758
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Where Can You Pay Taxes With Bitcoin?
Short-term Bitcoin traders have an acute interest in how they can dodge paying taxes on their Bitcoin, especially on capital gains. Others see it as a tool for evading taxation altogether, including income tax. These strategies are usually quite difficult in practice and therefore NOT recommended. However, a more interesting question – relevant to law-abiders and long-term HODLers – is how we can use our Bitcoin to help pay our taxes. Directly. This prospect is essential for people who store…
4 months ago 979
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