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Tax

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March 2023

Death and crypto taxes: Which one inspires greater dread?

Filing taxes on crypto assets is a ‘massive pain in the proverbial butt,’ writes Don Gossen of Nevermined. As IRS deadlines loom large, how can responsible investors avoid underreporting or overpaying?

Thailand Turns to Crypto

Thailand’s recent crypto tax waiver announcement could be a gamechanger in boosting Thailand’s economy.

FastForkast headlines

Internal Revenue Service in U.S. solicits public opinions on proposed NFT taxes

Biden administration proposes 30% crypto mining tax, closing wash-trading loopholes

March 2023

FastForkast headlines

Biden administration proposes 30% crypto mining tax, closing wash-trading loopholes

March 2023

Indian Budget Ahead

India’s crypto tax laws have caused local trading volume to plummet and the industry is hoping for better news in the upcoming budget session.

NFT December sales surge to highest since June amid ‘tax-loss harvesting’

Slump in prices of some non-fungible tokens and other digital assets allows U.S. holders to take advantage of a loophole to reduce capital gains taxes.

Alameda Research transfers spark suspicions as SBF denies involvement

Top blockchain and crypto news: Where is Alameda Research’s money going? US tax loophole may give crypto investors a break. China’s blockchain momentum builds.

FastForkast headlines

Biden administration proposes 30% crypto mining tax, closing wash-trading loopholes

March 2023

The Taxman Cometh

Crypto tax laws aren’t easy to follow, and as more investors are moving to put their cryptocurrencies into ledgers, how do traders keep track?

Will the next wave of FTX victims be unwitting tax cheats?

When a crypto exchange fails, will your transaction records vanish, too? Here’s why investors should take responsibility over their own trading data.

FastForkast headlines

Biden administration proposes 30% crypto mining tax, closing wash-trading loopholes

Japan plans to ease corporate tax rates for cryptocurrency issuers

December 2022

India’s headache, or opportunity?

India’s crypto sector has been having a tough time – we’re taking a look on what has been happening lately.

India’s crypto taxes provide headache for many, opportunity for some

One company says it’s bringing solutions for confused investors in digital assets in India who grapple with hours of tax calculations.

How will the crypto tax debate play out in the UK?

Like many nations, the UK is formulating new rules and guidelines for crypto taxation. Will they help or hinder its crypto hub aspirations?

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Japan plans to ease corporate tax rates for cryptocurrency issuers

New IRS tax language tweaked to include NFTs

European Parliament calls for crypto asset taxation, blockchain tax innovation

October 2022

India crypto exchanges plan long-term future as day traders flee 

In facing a government hostile to cryptocurrency trading, Indian exchanges are trying to attract new business with suites of different investment products.

South Korea’s taxman keeps circling crypto – airdrops look to be the next target

South Korea last week said crypto token airdrops are subject to a gift tax of as much as 50% under existing laws, but what is the likelihood this rule can be applied to digital holdings?

MicroStrategy and Michael Saylor sued by District of Columbia for evading taxes

The software enterprise company is accused of helping Saylor misstate his residential address to avoid paying taxes in a district where residents pay the most in federal taxes per capita.

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European Parliament calls for crypto asset taxation, blockchain tax innovation

October 2022

Nomad’s US$200 million hack; Saylor steps down

Nomad loses US$200 million after over 300 suspected of participating in the hack. Meanwhile, Michael Saylor moves from CEO to Chairman of Microstrategy.

FastForkast headlines

European Parliament calls for crypto asset taxation, blockchain tax innovation

Indian startup tries to solve country’s crypto tax nightmare

August 2022

FastForkast headlines

Indian startup tries to solve country’s crypto tax nightmare

India won’t offer respite from steep crypto taxes

India’s finance minister calls on G20 to share information on crypto

Singapore’s low taxes draw Japan’s Web 3.0 companies

Indian crypto trading volume drops as much as 63% after new tax

July 2022

FastForkast headlines

Indian crypto trading volume drops as much as 63% after new tax

India tax authorities to discuss 28% GST on crypto trading next week

S. Korea’s 20% crypto tax delayed by two more years

India’s crypto tax a blessing in disguise, stockbroker says

India crypto tax cut to 0.1% was a ‘typo’; gov’t issues clarification

Bitcoin payments for local taxes in the works, Gold Coast mayor says

June 2022

FastForkast headlines

Bitcoin payments for local taxes in the works, Gold Coast mayor says

Crypto tax preparer CoinTracker launches in India

Indian crypto traders may pay tax for using foreign exchanges: report

Pakistani crypto exchange RAIN calls for tax on digital assets: report

Australia’s taxman starts knocking on cryptocurrency investors’ doors

S.Korean president’s plan to raise crypto tax threshold hits road bump

India GST Council weighs 28% tax on crypto transactions

After crypto, India wants to come after DeFi

S.Korea finance minister nominee wants to delay crypto tax for two years

Indian crypto exchanges ordered to record customer data for five years

May 2022

Coinbase snafu sets the cat among the crypto pigeons in India

Coinbase’s showcasing of support by government-backed National Payments Corporation of India (NPCI) set the ball rolling on the cryptocurrency exchange being yanked from the ubiquitous Unified Payments Interface (UPI).

India to make life hell for crypto investors: MP

India needs to discourage people from investing in cryptocurrencies and digital assets, a senior MP from the ruling party told Forkast in an exclusive interview.

China’s e-CNY push; India’s crypto tax kicks in

India’s long-awaited crypto tax comes into effect. Meanwhile, China expands the digital yuan program.

FastForkast headlines

Indian crypto exchanges ordered to record customer data for five years

India tax breaks crypto’s back

Indonesia levies 0.1% VAT, income tax on crypto

Crypto tax in India is now a reality 

April 2022

India’s tax bogeyman is scaring off young crypto investors

The country’s attempt to profit from digital asset gains puts off new investors to the asset class, even as existing ones redeploy funds into traditional assets.

Killing it softly or regulating to innovate? India at the crypto crossroads

India’s crypto tax represents both a threat to the industry and an opportunity to create a regulatory framework to support it, says Polygon’s Jaynti Kanani.

Bollywood Icon’s Tax Bill; Metaverse Fashion Week Opens

Chinese telecom ZTE registers metaverse-related trademarks. Meanwhile, Bollywood star gets chased over NFT taxes.

Bollywood megastar Amitabh Bachchan ponies up tax on NFT sale

Bollywood icon Amitabh Bachchan is in the crosshairs of Indian tax authorities again, this time for NFT sales.

Malaysia’s crypto proposal; Hong Kong’s 11-yr-old NFT coder

A Malaysian minister has proposed making Bitcoin a legal tender. Meanwhile in Hong Kong, an 11-year-old programmer makes his way into the NFT business.

India’s crypto GST plan; Australia’s crypto reforms

South Korea prepares for the imposition of FATF travel rule heat up. Meanwhile in Australia, reforms are set to be introduced for the crypto sector.

FastForkast headlines

Crypto tax in India is now a reality 

India rules out offsetting losses against gains in new crypto tax law

Australia may regulate DAOs under senator’s proposed act

New crypto regulation — including tax reform — coming to Australia

Thailand eases crypto tax burden until 2023 to promote industry

March 2022

Indian exchanges scramble to implement crypto tax by April 1 deadline

Exchanges say the crypto tax was announced without key directives. While exchanges await clarity, they struggle to figure out their role in the tax system.

Indian crypto tax creates more confusion than clarity for traders, exchanges

The announcement of a crypto tax dispelled fears of a ban but left exchanges wondering whether they may be hurt in the long run.

Bithumb goes for Olympic gold; India crypto tax questions

South Korean crypto exchange Bithumb goes for Olympic gold, meanwhile in India clouds cast over crypto tax questions

North Korea gains from cyberattacks; Russia crypto mining tax?

North Korea is benefits financially from the crypto cyberattacks. Also, is Russia looking to tax crypto mining soon?

FastForkast headlines

Thailand eases crypto tax burden until 2023 to promote industry

US taxpayer rejects IRS refund for staking rewards

Indian investors want government to reconsider crypto tax rate