ZenLedger – Keeping Crypto Investors out of Tax Trouble

ZenLedger is a tax software suite geared towards the DeFi and cryptocurrency communities. The protocol integrates a variety of unique features that enable users to save time and effort when filing their crypto holdings with tax authorities. The system is completely IRS compliant and integrates with other popular tax software. Why ZenLedger Could Help You ZenLedger serves an important role in educating investors and providing users with crypto tax information and services. The network streamlines the process through the introduction…

Recent Report Reveals India Ministry of Finance’s Plan to Impose Taxes on Crypto

In a recent report, the Indian government is slowly changing its stance on the cryptocurrency space. According to the report, Indian lawmakers are thinking of imposing taxes on all cryptocurrency-related activities. Consequently, the taxation is going to affect all crypto exchanges and trades in the country.  Moreover, the report shows how the decision focuses on the idea that crypto-based ventures are profitable. Thus, in line with this statement, the government of India intends to impose taxes on crypto-related activities. And only because they…

Government Officials Can Help Drive Crypto Adoption Mainstream

Government officials may be the key to supporting cryptocurrency mainstream adoption in the long term. This year's wild fluctuations in crypto prices have alarmed investors, Wall Street, and even regulators are weary. Yet, the cryptocurrency space is still young, and a lot is yet to explore. Government officials should chip in to drive mainstream adoption of cryptocurrencies. It could, after all, be the currency of the future.  Toning Down Crypto Regulation Cynthia Lummis, a government official, has stated some exciting…

US Lawmakers Uphold Proposed Crypto Tax Rules in Huge Blow to the Industry

Crypto industry advocates faced a significant setback on Aug 24 as the US House Rules Committee blocked attempts to reverse the controversial crypto tax provisions. The rules add to Biden's $1 trillion infrastructure plan despite facing pushback from some lobbyists. House Speaker Nancy Pelosi has now decided to take the bill to the floor for a vote by Sep 27. The committee doesn't want any compromising alterations to the stringent crypto tax rules. Crypto proponents oppose the passing of the…

The Top Cryptocurrency Tax Platforms To Use For Your Crypto Taxes

It’s no secret that cryptocurrencies have become a lucrative form of investment. As such, governments across the globe have updated their taxation policies to get a piece of the rapidly growing sector. In most countries with implemented digital asset taxation, cryptocurrencies such as Bitcoin are treated as property for tax purposes and not as a digital currency. This means that capital gains and losses reporting rules that apply to other forms of properties such as real estate, bonds, and stocks…

Cryptocurrency Taxes: Countries that Tax Crypto Traders

Digital currency trading is rapidly receiving significant attention from enthusiastic traders worldwide. Users regularly find unprecedented benefits that make cryptocurrency trading a practical investment strategy. A crypto trader dedicates their time to earn profits from alterations in the crypto market. Most work hard to learn trends within the markets to know the best time to buy or sell. Despite the risks underlying the art, some individuals take up crypto trading as a full-time job while others are part-time. The increased…

South Korea Could Delay Controversial Crypto Tax Rule Until 2022

South Korea could be set to delay the implementation of a new crypto tax rule. Local reports say that the National Assembly has proposed postponing the deployment of the law till October 2022. 25% Crypto Income Tax The government had initially planned to begin the implementation of the cryptocurrency income tax rule by October 2021. The rule states that South Korean residents will be charged 20% income tax on cryptocurrency profits worth 2.5million won ($2000). The rule introduced by the…

5 Ways to Get Rid of Your Crypto Gains Tax Rate

Cryptocurrencies are becoming more important and relevant for both short and long-term investments. Numerous countries around the world are looking at ways to adapt, regulate, and tax them. In the United States, the Internal Revenue Service (IRS) classifies crypto assets as property. Bitcoin falls under the same regulation. So, when you sell, trade, or exchange BTC into USD or other cryptos, you have to pay a tax on the profit, if there is one. If you are looking to minimize…

Feeling Crypto Generous? Here’s How Bitcoin Donations Work

Donating Bitcoin or any other cryptocurrency to charity is a noble endeavor and a win-win situation for both parties. On the one hand, those in need get potentially critical support, and you, the donor, benefits from a tax deduction on capital gains. However, if you feel crypto generous, you should have a solid understanding of how Bitcoin donations work. If you fail to do your due diligence, you might lose the full tax advantage you receive from cryptocurrency donations. Today,…

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