US Senator Cynthia Lummis has put forward a draft bill to reform the digital asset taxation regime in the United States. The draft bill comes after recent budget talks did not touch upon digital assets. Which left the crypto sector with uncertainly hanging in the balance. At the center of
The Income Tax Department of India has commenced an expansive investigation into allegations of evasion of taxes and laundering of unaccounted income through investments of VDAs, including cryptocurrencies. The whole process was kickstarted after a data analytics exercise brought to light massive instances of contraventions of the Income Tax Act
Republican Senators Cynthia Lummis (WY) and Bernie Moreno (OH) are sounding the alarm on potential tax pitfalls facing companies holding digital assets. In a recent letter to Treasury Secretary Scott Bessent, the two lawmakers urged the department to clarify how the Corporate Alternative Minimum Tax (CAMT) applies to unrealized gains
The Ministry of Finance, Slovenia is looking to impose a probable 25% tax on crypto trading profits for its citizens as per the new draft law. As per the bill, the tax will be imposed on selling cryptocurrency for Fiat or pay for goods and services. However, no tax will
The National Securities and Stock Market Commission of Ukraine (NSSMC) has announced a proposed framework for the taxation of cryptocurrencies. This new framework will impose a 23% tax on certain crypto transactions while strategically exempting crypto-to-crypto transactions and stablecoins. Released on April 8, 2025, the proposal comes as Ukrainian lawmakers
An investment executive has called on the UK government to impose a tax on cryptocurrency purchases. Lisa Gordon, chair of investment bank Cavendish, believes this move could encourage more Britons to put money into domestic equities instead. She shared her views in an interview with The Times on March 23.
Crypto Taxation is known to hold an element of obscurity from both taxpayers’ and national governments’ perspectives. This obscurity arises due to the lack of a definite approach to the process. The past year saw multitudes of nations navigating the sphere and producing Taxation laws as part of regulating the
India is losing significant revenue due to its current crypto taxes policies, as revealed in a report by the Esya Centre. The country missed out on ₹6,000 crore in taxes as crypto traders moved to foreign platforms. If the policies remain unchanged, India could lose an additional ₹17,700 crore over
A Texas man, Frank Richard Ahlgren III, has been sentenced to two years in prison for Crypto tax evasion. This is the first ever criminal prosecution centred entirely on cryptocurrency. Texas Man Sentenced for $3.7 Million (Bitcoin) Crypto Tax Evasion Ahlgren was convicted for falsely underreporting capital gains earned from
On November 27, 2024, Russia’s Federation Council approved a crucial bill outlining the taxation framework for digital currencies. The legislation follows approval from the State Duma, the lower house of parliament, the day before. With President Vladimir Putin’s expected signature, the bill will soon become law, officially establishing new rules
