Crypto News 

Venezuela Introduces Crypto, Foreign Fiat Operations Taxation

“Venezuelan government has published a new decree that introduces taxation for operations with cryptocurrency and foreign fiat in its official newspaper Monday, Jan. 7” writes Ana Berman for cointelegraph.com. The decree states that Venezuela’s tax and customs duties regulator (SENIAT) will soon provide guidelines, describing how to report and pay crypto and foreign fiat taxes.The exact rates of crypto taxation have not yet been specified. As Cointelegraph reported last August, Petro is now used as a unit of account in the country, with salaries and the prices of goods and…

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Crypto News 

Ukraine: Overregulation Prevents Crypto Development, Says Central Bank Official

“An official of the Ukrainian central bank (NBU) told this to a local crypto news outlet LetKnow Tuesday, Jan. 8” writes Ana Berman for cointelegraph.com. Moreover, Vidyakin believes that Ukraine needs a more clear regulatory framework for crypto, along with better definitions for the industry.The NBU official further commented that he supports regulations that allow the market to grow and that the banks should be open to interacting with the fintech sector. In the meanwhile, a working group within the Ukrainian Ministry of Finance is discussing guidelines for crypto taxation. Source:…

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Crypto GBP Markets News 

British Regulators Ruminate on Crypto Rules While Standing Firm on Crypto Taxation

“It therefore looks unlikely that, even with the additional time bought by a bear market, U.K. regulators will take a soft stance” writes Simon Chandler for cointelegraph.com. A significant crypto market slump has brought concern and alarm, but also some unexpected side benefits. In other words, regulators will be forced to move slowly on crypto regulation, regardless of whether the market itself is accelerating or decelerating.One such benefit comes from how financial regulators in the United Kingdom now appear sufficiently relaxed about crypto and its growth that they can take their…

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Crypto News 

Lawmakers look to change SEC’s 72-year-old securities definition to exclude cryptocurrencies

“Two congressmen are introducing a bill Thursday that would exclude digital currencies from the decades-old definition of a security” writes Kate Rooney for cnbc.com. Warren Davidson, R-Ohio and Darren Soto, D-Fla. — defines a “digital token” and clarifies that securities laws would not apply to cryptocurrencies once they become a fully functioning network.Retail investors made speculative bets on bitcoin and other cryptocurrencies last year, and many lost big as the crypto bubble burst. Source: cnbc.com

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Crypto News 

French Parliament Refuses to Ease Taxation for Cryptocurrency Owners

“The lower house of the French parliament has rejected the amendments to the 2019 finance bill which would ease crypto-related taxation” writes Ana Berman for cointelegraph.com. Another amendment proposed to increase the annual volume of transactions that falls under tax exemption from €305 (around $350) to €3,000 ($3,430), or even €5,000 ($5,714).The head of a French blockchain association Chaintech, Alexandre Stachtchenko, told Capital that the government’s move did not provide any legal certainty for the country’s crypto traders and investors.The amendments that have been declined by the National Assembly referred…

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Crypto News 

France Rejects Crypto-Friendly Taxation Policies

“France has gotten in the way of a long list of new crypto-friendly tax regulations that seek to provide cryptocurrency merchants and their customers with more profits” writes Nick Marinoff for livebitcoinnews.com. The French Nationwide Meeting rejected the regulations on Monday, believing that the present rate of tax exemptions is fair, and thus warrant no changes.Surprisingly, one amendment left out of the Meeting was a 30 percent flat tax set to be implemented for all cryptocurrency transactions.Will France eventually see the light when it comes to cryptocurrency?.  Source: livebitcoinnews.com

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Crypto Markets News 

South Korea’s Finance Ministry Considers Taxing Crypto and ICOs, New Minister Reveals

“South Korea’s Finance Ministry is considering taxation on cryptocurrencies and Initial Coin Offerings (ICOs), daily English-language newspaper The Korea Times reports Monday, Dec. 3” writes Helen Partz for cointelegraph.com. Hong Nam-ki, South Korea’s new Minister of Economy and Finance as well as new Deputy Prime Minister, revealed that а crypto taxation plan will be finalized according to global taxation trends in the industry.As well, the deputy minister claimed that authorities “will do [their] utmost to nurture” blockchain technology, stressing that 90 percent of blockchain-related businesses, except crypto exchanges, can be…

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Crypto News 

G20 Country Leaders Call for International Cryptocurrency Taxation

“The G20 countries have called for the taxation of cryptocurrency, as well as its regulation to combat money laundering, Japanese news outlet Jiji.com reports Dec. 2” writes Adrian Zmudzinski for cointelegraph.com. As Cointelegraph reported in October, the CEO of the company behind the cryptocurrency investment app Circle had called for “normalization at the G20 level” of the crypto industry.According to Jiji.com, the final text of a document jointly delivered by G20 leaders calls for “a taxation system for cross-border electronic payment services.” The article then specifies that under current laws,…

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News 

When higher taxes brought Americans together instead of dividing them

“The ratification of the 16th Amendment, empowering Congress to levy an income tax, and the enactment of the first peacetime national income tax in 1913 were crucial first steps in the establishment of a new, more progressive tax regime” writes Ajay K for washingtonpost.com. Well before the war, progressive reformers had been using tax policy to attack the massive inequalities of the Gilded Age.We may have lost that sense of social solidarity today, but the World War I tax legacies remain with us.For Allen and other reformers, progressive taxation was…

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News 

Parisians are now rioting against the Paris climate accords

“Given the rapid rate at which carbon-reducing technology is advancing, a carbon tax may be more trouble than its worth” reports washingtonexaminer.com. You might think that that frog has already been boiled, yet this environmentally inspired carbon tax proves otherwise.More than a quarter million protesters have taken to the streets to revolt against a rising fuel tax amid France’s already exorbitant taxes.The best economic argument for a carbon tax is that the market price of goods and services resulting in carbon emissions fail to include the true social and environmental…

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