Crypto tax rules will reduce US budget deficit by $11B over ten years — White...
The budget from the Biden administration said modernizing tax rules to include digital assets will bring the government $4.9 billion in revenue in 2023. The United States government’s budget for the 2023 fiscal year included roughly $11 billion in revenue over the next decade from modernizing rules around digital assets.According to U.S. President Joe Biden’s FY2023 budget, which was released by the White House on Monday, modifying the tax rules on digital assets will reduce the deficit by $10.9 billion from 2023 to 2032. The White House said it will “modernize rules” to include certain....
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Yet another regulatory attack on self-hosted wallets, a digital dollar with privacy protections, and more of the same for spot BTC ETFs. The European Parliament continued to keep crypto users and advocates at the edge of their seats last week as yet another piece of potentially harmful legislation — this time, a set of demanding data disclosure requirements for digital asset service providers — was rushed to a vote mere days after a near miss on banning proof-of-work-based cryptocurrencies. Unlike the relatively happy resolution of the Markets in Crypto Assets framework situation, the EU’s....
An Indian industry association has written to the country’s finance minister seeking clarity on cryptocurrency taxation in Union Budget 2022-23. “The budget should ideally offer coherent rules on direct taxation and the GST Council should detail the applicability of taxation, else there will be confusion.”
Industry Wants Clarity in Crypto Tax Laws in Union Budget 2022-23
Indian industry association Indiatech has written to the country’s finance minister, Nirmala Sitharaman, regarding cryptocurrency taxation. The association represents major....
When the United States has a significant amount of debt, high interest rates and a budget deficit, there can be no hope of ever paying it off.
Yesterday, December 29, the price of Bitcoin moved to $430. Against the low liquidity on the market, investors are cautious and waiting for better conditions to make deals. Obviously, investors agreed that the parity price of Bitcoin will remain at $440 until the end of the week and the year. Vishal Gupta, the Founder of Bitcoin Alliance India, CEO at SearchTrade, and Director at Moving Trumpet, agrees with this statement. Speaking about the Bitcoin price he said that the price will hover between $410 and $440 till the end of the weekend. Today, December 30, we expect low volatility and a....
The Biden administration is reportedly pushing to include global crypto data sharing rules in the $3.5 trillion budget package. The Treasury wants crypto businesses to report information on foreign account holders “so that the U.S. can share information with global trading partners.”
Treasury Wants to Impose More Crypto Rules
The U.S. Treasury is reportedly pushing to include more rules for tax compliance on cryptocurrency transactions in the upcoming $3.5 trillion budget plan.
The Biden administration is hoping to add the requirements for crypto....