G7 to discuss CBDC and digital taxation this week
The G7 will begin its Feb. 12 meeting on the subject of central bank digital currencies, before moving to digital taxation and accelerating global debt. Japanese Finance Minister Taro Aso has revealed the G7’s financial leaders will discuss central bank digital currencies during a meeting on Feb. 12.The meeting will be chaired by Britain, with representatives from the world’s largest economies set to discuss strategies for navigating their way out of the global economic crisis caused by the coronavirus pandemic.Friday’s meeting will commence on the topic of CBDCs, but the minister noted....
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The US Senate Finance Committee is all set for its October 1 hearing, titled ‘Examining the Taxation of Digital Assets.’ As the name suggests, the hearing will focus on proposed frameworks around the taxation of digital assets, mainly cryptocurrencies. These include: Tax treatment of crypto gains and losses Classification of digital assets Methods to simplify […]
It seems like the United States is not the only country making important decisions about bitcoin in the middle of its tax season. Shortly after the US Internal Revenue Service (IRS) declared that it would treat digital currencies as property for tax purposes, the Tax Board in Denmark has ruled that gains and losses from casual bitcoin trading are not subject to taxation. Politiken reports that Denmark's top tax authority met today to discuss digital currencies and how to approach their taxation, and the Tax Board concluded that any gains made from bitcoin trading are exempt from being....
A Brazilian deputy has requested the Finance and Taxation Committee to conduct a public hearing on Bitcoin, sources report. Manoel Junior, a congressman for the State of Paraiba, doesn't have a track record of speaking for/against the digital currency sector. His earlier public welfare initiatives were mostly focused on municipal and medical developments, showing no affiliation with the technology sector. The second-time elected politician however is backing a Bitcoin Exchange, coinBR, in their initiative to boost the Brazilian digital currency market. In his letter addressed to the....
On Monday, the International Monetary Fund (IMF) published a report on crypto assets like central bank digital currencies (CBDCs) and global stablecoins (GSCs). Moreover, the IMF also hosted a virtual panel that discussed digital currencies and cross-border payments with the Federal Reserve Chair Jerome Powell. The Fed Chair says as far as a U.S.-issued CBDC is concerned, it is “more important to get it right than to be first.” The IMF held a virtual panel that discussed digital currencies and cross-border payments on Monday morning. The panel was hosted by the IMF managing....
The United States is embarking on a campaign toward the introduction of a CBDC, or central bank digital currency. As part of the White House’s first-ever comprehensive framework, the Treasury Department is now suggesting the creation of a national stablecoin or CBDC. To counter China’s advancements on the CBDC, five panelists at a hearing for the […]