US lawmakers reintroduce bill to stop IRS from taxing crypto transactions und...
House Representative Suzan DelBene, introducing the latest iteration of the bill, said the United States needs to "ensure that our tax code evolves with our use of virtual currency." A bill previously introduced by Washington Representative Suzan DelBene aims to exempt crypto users from paying taxes on transactions under $200.According to a Tuesday draft of the Virtual Currency Tax Fairness Act of 2022, Washington Representative Suzan DelBene is seeking to amend the Internal Revenue Code of 1986 to exclude gains from certain personal transactions of virtual currency. If signed into law,....
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The exchange said users could send the funds to their Coinbase accounts in fiat, or automatically convert it to crypto with no trading fees. Tax filing platform TurboTax is allowing U.S. filers to get their refunds directly in crypto as part of an arrangement with crypto exchange Coinbase.In a Thursday blog post, Coinbase announced users who filed their tax returns using TurboTax would have the option to receive any returns in cryptocurrencies like Bitcoin (BTC) and others supported on the platform. The exchange said users could send the funds to their Coinbase accounts in fiat, or....
The Russian State Duma will consider a new bill on cryptocurrency taxation on Feb. 17. Russian lawmakers are actively preparing new legislation for taxing cryptocurrencies like Bitcoin (BTC).According to an official announcement by the Russian State Duma, the Duma’s Committee on State Building and Legislation has approved a bill on cryptocurrency taxation on Feb. 15. The new bill represents a set of amendments to the Russian federal tax code.As part of the draft bill, the Russian government officially recognizes cryptocurrencies like Bitcoin as property, aiming to tax profits from crypto....
A group of Paraguayan lawmakers presented a ‘Bitcoin bill’ in the National Congress last week, but it turned out to be a very different proposal than what crypto followers expected. The bill seeks to control and regulate cryptocurrency transactions and establish taxes. There is no mention of declaring bitcoin or any other cryptocurrencies as legal tender anywhere in the proposal. “Bitcoin Bill” Presented in Paraguay The long-hyped ‘Bitcoin bill’ was at last presented in Paraguay to the National Congress by two lawmakers last week, but it was not what....
The state of California has officially ceased further plans to adopt cryptocurrency legislation this year. The lawmakers attempting to create their own form of the New York BitLicense with Bill AB-1326. The legislation will remain untouched until next year, when authorities may revisit the Bill and try to introduce it again. California Lawmakers Stop....
U.S. President Joe Biden and lawmakers have agreed on the details of a roughly $1 trillion bipartisan infrastructure package with measures to step up tax enforcement around crypto assets. Taxing Crypto Transactions to Fund US Infrastructure Plan The White House announced Wednesday that President Joe Biden and a bipartisan group of lawmakers have agreed on the details of “a once-in-a-generation investment” in the U.S. infrastructure. The bill will be taken up in the Senate for consideration, the White House stated, adding that “In total, the deal includes $550 billion in....