The U.S. Internal Revenue Service (IRS) has unveiled an updated Form 1099-DA for reporting digital asset transactions, introducing key changes that may address past criticism
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IRS updates draft of crypto reporting form for US taxpayers
The latest draft form eliminated asking US taxpayers the time of day a crypto transaction occurred and identifying the “broker type.”
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Binance Hit With $87 Million Tax Bill in India
Global crypto exchange Binance has received a goods and services tax (GST) bill of Rs 722 crore ($87 million) in India for non-compliance with the
Read moreIndia demands $86M from Binance in unpaid GST taxes
Binance faces a demand for nearly $86 million in unpaid GST from Indian authorities, aiming to resume operations after a previous ban.
Read moreSenator Cynthia Lummis releases report attacking Biden’s mining tax
The pro-crypto senator claimed that Bitcoin mining consumes as much energy as household appliances such as tumble dryers.
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India Maintains Crypto Tax Regulations in 2024/25 Budget
Indian Finance Minister Nirmala Sitharaman’s 2024-25 Union Budget keeps the existing cryptocurrency tax regulations unchanged, disappointing local crypto advocates. They argue that reducing the 1%
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