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....
Over the last month, the crypto airwaves have been filled with reports of the German government selling large amounts of Bitcoin. These sell-offs have negatively impacted the Bitcoin price, as well as the broader crypto market, sending the whole market into the red. However, while the German government has been the most prominent seller during […]
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....
Bitcoin, the largest cryptocurrency asset, is in the limelight as the German government, the Bundeskrimanalamt (BKA), has continued its aggressive BTC selling spree, transferring over 6,306 BTC as part of its ongoing liquidation strategy, which has triggered a broader discussion about its potential impact on the crypto asset’s price. German Government Offloads Thousands Of Bitcoin […]