German Parliament Member Urges Government To Cease Selling Bitcoin
Joana Cotar, an independent member of the Bundestag, one of Germany’s legislative chambers, has called on the government to stop the ongoing Bitcoin (BTC) sell-off, which has had a notable impact on the BTC market, resulting in a 10% drop in the cryptocurrency’s price over the past two weeks. Bitcoin As Valuable Asset Class For State Treasury In a letter addressed to the government, Cotar emphasized that BTC has gained recognition as a genuine asset class and a promising investment for the future due to its remarkable price surge. The lawmaker highlighted that traditional....
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An Indian parliament member has urged the government to increase the tax on crypto income from the current proposed rate of 30%, stressing that crypto trading is similar to gambling. He has also requested that the goods and services tax (GST) be imposed on the total transaction value of crypto.
Indian Parliament Member Wants to Tax Crypto Income More Than 30%
India’s Finance Bill 2022 containing the proposed 30% tax on crypto income is now being considered in Rajya Sabha, the upper house of India’s parliament.
Parliament member Sushil Kumar Modi....
Article updated on August 19th at 14:31 (BST). The German ministry of finance (Bundesministerium der Finanzen) has officially recognised bitcoin, mentioning the digital currency in a reply to an inquiry in parliament. "The German Ministry of Finance does not classify bitcoins as e-money or as a functional currency, they cannot be regarded as a foreign currency. Nevertheless they have to be subsumed under the German term of 'Rechnungseinheit' as a financial instrument," Martin Chaudhuri, of Bundesministerium der Finanzen, told CoinDesk. German news website Die Welt reports Member of....
An Indian parliament member has warned that imposing a 1% tax deducted at source (TDS) on every crypto transaction will kill the nascent asset class. This tax provision is contained in Finance Bill 2022 which Lok Sabha, the lower house of India’s parliament, has passed. However, India’s finance minister insists that the TDS on crypto transactions is for tracking purposes.
Parliament Member Raises Concerns Over 1% TDS on Crypto Transactions
Lok Sabha, India’s lower house of parliament, passed Finance Bill 2022 Friday which includes a proposal to tax....
An Indian parliament member says crypto is like gambling and must be taxed at a very high rate, such as 50%. “We need to discourage and disincentivize” trading and investing in the asset class, he stressed. Indian Parliament Member Wants to Tax Crypto at 50% Indian parliament member Sushil Kumar Modi shared his view on cryptocurrency in an interview with Forkast, published Tuesday. Modi is a member of Rajya Sabha, the upper house of India’s parliament. He recently made headlines when he urged the Indian government to impose more than 30% tax on crypto income prior to....
The Bitcoin market has been riddled with several whale selloffs since June. The majority of these selloffs have emerged from miners and a few other whales, although recent news has emerged that the German government is also selling off its holdings. Due to the enormous scale of the transactions, selloffs by the government can be […]