The Ministry of Revenue introduced the taxation bill. This new proposal is to implement the crypto-reporting framework created by the Organisation for Economic Cooperation and Development (OECD). This was introduced by Hon Simon Watts on 26 August 2024. The proposals will take effect from 1 April 2026, with the first
In recent years with the current market hacks and money laundering. To combat this, The US is coming forward by proposing a bill to expand Secret Service powers in the crypto crime fight. In a bipartisan effort to combat cryptocurrency-related crime, US Senators Catherine Cortez Masto (D-Nevada) and Charles Grassley
The United Kingdom has passed a landmark bill recognizing cryptocurrencies as regulated financial activities within the country. This significant decision by the UK government has marked a great turning point in the global crypto market. It reflects the growing acceptance and understanding of the potential of cryptocurrencies. On June 29,
The North Carolina House of Representatives has passed a bill, “HB690,” that prohibits individuals from using central bank digital currencies (CBDCs) to make payments to the state. The legislation also prohibits the Federal Reserve from using North Carolina as a potential testing ground for its own CBDC pilot. The bill
Texas, the leading Bitcoin mining capital of the world, is just a phase away from passing the most significant anti-Bitcoin mining bill. On Tuesday, the State Committee in Austin approved the bill with zero opposition votes, moving it to the “uncontested” list. Currently, it is in the queue in the
US Senators Proposed a tax-free bill for small crypto transactions. The bill demands cryptocurrency transactions less than $50 be exempt from taxation. Famed US Senators have proposed a new bill that would exempt modest crypto transactions from capital gains taxes. A proposed bill attempts to exempt Americans from keeping track
The bill will provide standards for utilizing stablecoins. The regulator will have the authority to refund the victims. UK finance minister Zahawi announced that the long-awaited financial services and markets bill would be presented before parliament on Wednesday, in order to capitalize on the benefits of Brexit and transform the
Under the bill cryptocurrency firms will not be required to pay VAT. The power consumption for mining activity will be done under ANDE. On July 14, the South American country Paraguayan senate sanctioned a complete bill to restrict cryptocurrencies and enable bitcoin miners to utilize extra electricity produced in the
Taxes will be calculated based on the average cost of the electricity used to make coins. PIT rate on dividends was raised from 5% to 10% under the new Tax Code. A bill extending Kazakhstan’s Tax Code to impose higher tax rates on cryptocurrency miners has been enacted by the
Over 67 million individuals in Mexico still do not have access to a bank account. Indira Kempis proposed a bill to accept BTC as legal tender in Mexico. Mexican senator Indira Kempis proposed a bill to accept Bitcoin (BTC) as legal tender in Mexico and claims the second-largest market that
