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BITCOIN PRICE: 3,392.16     HIGH: 3,544.02     LOW: 3,355.00

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Tag: tax

Ohio Passes Law to Facilate Payment of Tax Through Bitcoin

Category: Bitcoin, Blockchain, Finance, News, Platform, Tech

Ohio Passes Law to Facilate Payment of Tax Through Bitcoin

While the crypto market continues to see an abundance of red on the charts, it received a massive nod of approval on November 25, 2018. The Wall Street Journal reports the U.S. state of Ohio is set to become the first in the country to allow payment of taxes through bitcoin. Businesses Can Pay Taxes in Bitcoin From November 26,…

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Spain: Financial Watchdog Intensifies Efforts to Make Cryptocurrency Holders Pay Tax

Category: Bitcoin, Finance, News

Spain: Financial Watchdog Intensifies Efforts to Make Cryptocurrency Holders Pay Tax

It may soon no longer be business as usual for bitcoin (BTC) and altcoins investors in Spain as the nation’s tax authority, the Agencia Estatal de Administracion Tributaria (AEAT), has reportedly identified at least 15,000 distributed ledger technology (DLT) based virtual currency holders and is now set to make them pay taxes, reported Finance Magnates on November 20, 2018.   …

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Bitcoin Climbs Back to its $6,500 “Stablecoin” Mark: BTCManager’s Week in Review

Category: Bitcoin, Business, Ethereum, News, Platform, Tech

Bitcoin Climbs Back to its $6,500 “Stablecoin” Mark: BTCManager’s Week in Review

The price of bitcoin managed to regain the $6,500 mark, which the community is jokingly referred to as its “stablecoin price” as it has spent the better of the last two months hovering around this price level. The price was pushed higher this week – by around three percent – thanks to crypto-positive news coming from Wallet Street. Fidelity, the…

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The New York and California Way: How Countries in the U.S. Are Taxing Bitcoin

Category: Bitcoin, Business, News, Regulation, Tech

The New York and California Way: How Countries in the U.S. Are Taxing Bitcoin

Despite research showing that millions of Americans hold cryptocurrencies, only a few states have actually enacted tax laws or issued concrete guidance on how to deal with the relatively new phenomenon, Bloomberg Tax reported on September 12. Bitcoin Tax Laws Virtually Nonexistent Can cryptocurrencies be regarded as cash? Can they be subjected to the same taxing laws? Can they be…

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South Korean Authorities: No Ten Percent Tax on Crypto Gains for Now

Category: Altcoins, Bitcoin, Blockchain, Business, News, Regulation, Tech

South Korean Authorities: No Ten Percent Tax on Crypto Gains for Now

On June 22, 2018, reports emerged that the South Korean authorities were looking to categorize cryptocurrency trading profits as ‘other income’ and levy a 10% tax on them. However, the Ministry of Strategy and Finance has refuted the rumors. A Ten Percent Tax on Bitcoin Trading? While the vibrant, relatively crypto-friendly nation have since made it clear to virtual currency…

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Tax Raid on Bithumb Found “No Illegal Activities such as Tax Evasion”

Category: Altcoins, Bitcoin, Business, News, Regulation

Tax Raid on Bithumb Found “No Illegal Activities such as Tax Evasion”

Following the tax raid on Bithumb, South Korea’s largest cryptocurrency exchange in January 2018, officials from the National Tax Service of South Korea have stated that their tax investigation of Bithumb turned up “no illegal activities such as tax evasion.” The Gangnam Raid A team of over a dozen agents from the Seoul Metropolitan Taxation office raided Bithumb headquarters in Gangnam-gu,…

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Bitcoin and Cryptos to be Taxed, Says South African Revenue Service

Category: Altcoins, Bitcoin, Mining, News, Regulation

Bitcoin and Cryptos to be Taxed, Says South African Revenue Service

Based on a statement published by the South African Revenue Service (SARS) on its website, on April 6, 2017, cryptocurrency holders will now need to pay taxes on their holdings. By virtue, South Africa is now one of the countries where the government has issued a definitive ruling on the issue of cryptocurrency taxation. South Africa remains one of the…

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German Authorities Make Bitcoin Official Legal Tender in the Tourism Sector

Category: Altcoins, Bitcoin, Blockchain, Business, Ethereum, News, Regulation, Tech

German Authorities Make Bitcoin Official Legal Tender in the Tourism Sector

Life is a trade; you win some, you lose some. This is the condition of the world’s flagship cryptocurrency right now. While bitcoin is banned in some countries presently, it is gaining more mainstream adoption in many other nations. In a point for cryptocurrencies, however, the German National Tourist Board (GNTB) has now made bitcoin and the like a legal…

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This Loophole In Laws Can Help Bitcoin Investors Thousands In Tax

Category: Altcoins, Bitcoin, Finance, News

This Loophole In Laws Can Help Bitcoin Investors Thousands In Tax

As most readers can probably relate, the United States government takes its taxes very seriously. Perhaps a bit too seriously if you ask some disgruntled cryptocurrency investors who are going to be hit hard by the newly written U.S. tax laws. Cryptocurrency and Tax Obligations Now that these new laws are coming into effect, crypto investors have come in terms…

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Wyoming the Latest State to Introduce Crypto-Related Bills

Category: Altcoins, Bitcoin, Blockchain, Business, News, Regulation

Wyoming the Latest State to Introduce Crypto-Related Bills

With blockchain technology and digital currencies finally starting to infiltrate the mainstream, there has been a lot of pressure placed on lawmakers to introduce bills surrounding these burgeoning sectors. What Does the Wyoming Bill Cover? Just like any industry, it is critical that the communities involved are both adequately protected as well and monitored via legal oversight and taxation. As…

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