Lens
Regulatory News
South Korea’s Financial Services Commission (FSC) says some NFTs (non-fungible tokens) will be taxed from next year, overturning the finance minister’s stance on the topic announced just last month. The scope of taxable NFTs is yet to be determined by the tax authorities. Fast facts The FSC’s vice chairman Doh Kyu-sang said at the national […]
Danny Park
Regulatory News
The US Infrastructure Act has provisions that should make crypto advocates shudder, writes Alex Shipp of Offshift. Who will stand up for crypto’s core values?
Alex Shipp
Regulation
While a significant legislative achievement for U.S. President Joe Biden, the US$1 trillion bipartisan infrastructure bill signed into law on Monday included provisions relating to cryptocurrency tax reporting requirements that has many in the industry nervous. Fast facts As Forkast.News previously reported, provisions were added to the bill as it was being drafted in August […]
Lachlan Keller
Regulation
Despite movement from both the ruling Democratic Party and the conservative party to delay the 20% virtual asset gains tax, South Korean finance minister still thinks it should start as planned for Jan. 1, 2022.
Danny Park
Regulation
Top blockchain and crypto news: Ethereum rises and rivals follow. Taxing times for US investors. New life for reborn crypto miner.
Forkast.News
Regulatory News
The country will follow global crypto guidelines in excluding non-fungible tokens (NFTs) from its categorization of virtual assets — meaning income from NFTs may remain untaxed in Korea.
Danny Park
Regulation
Officials are concerned that many investors may not be aware crypto trading is taxed in a similar way to share trading.
Lachlan Keller
Regulation
Crypto investors say virtual asset gains will be taxed on uneven grounds compared to stock capital gains.
Danny Park
Regulation
The Indian ministry of finance has formed a panel to examine how income from crypto investments can be taxed, according to a report by Inc42. Fast facts The panel will evaluate whether crypto income can be taxed as capital gains or if it requires the formation of a new category. The committee is required to […]
Monika Ghosh
Regulation
South Korea’s finance minister Hong Nam-ki gave a firm “no” at the National Assembly to lawmakers asking for crypto taxation to be delayed until the industry is fully prepared. Fast facts Minister Hong insisted the plan to tax capital gains from cryptocurrency transactions should be executed as planned. The amended tax law stipulates that crypto […]
Danny Park
