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Ethereum24h $1,890.85-0.88%

XRP24h $2.14+0.34%

BNB24h $602.52-0.99%

Solana24h $129.32+2.34%

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Chainlink24h $13.79-2.73%

Genesis eyeing tax benefits after blocking DCG sale

Genesis stands to benefit from $700 million of “federal net operating loss carryforwards,” if DCG keeps hold of at least 80% of the firm.

The crypto tax man is calling in the UK

The UK gov’t wants to know how many times a crypto asset has been transacted, how much it cost, what exchanges were used, and any profits.

The UK’s 40% tax rate means that £100,000 in inherited crypto could still incur a £40,000 bill, even if bereaved families can never spend it.

An IMF working paper highlights how the pseudonymous nature of cryptocurrency presents problems for tax collection.

The Panamanian Legislative Assembly has unanimously passed a bill recognizing digital assets as foreign-source income in a 40-0 vote.