The United States Internal Revenue Service (IRS) has been authorized by a court to issue a so-called “John Doe” summons against M.Y. Safra Bank. The request follows the failure of crypto users who use...
Tag: Tax
LUNC investors react to CZ’s 1.2% trading tax recommendation on Binance
The infamous collapse of the Terra ecosystem, which erased market prices of TerraUSD (UST) and LUNA tokens, continues to trouble anxious investors as co-founder Do Kwon, crypto exchanges and the commu...
Mendoza, Argentina Will Permit Crypto Tax Payments
Mendoza – a province in the western region of Argentina and the fifth most populous area in the country – says it’s allowing residents to use cryptocurrencies like bitcoin to pay for taxes and other c...
LUNC’s 1.2% tax burn may lead to a brighter future, what about the present
The much-awaited 1.2% tax burn was implemented on the Terra Classic [LUNC] blockchain recently. Thus, giving massive hope to investors for the token’s revival. Though the protocol received much suppor...
South Korea Seized $183 Million Worth of Crypto From Tax Evaders (Report)
South Korean law enforcement officers have reportedly confiscated around 260 billion won ($183 million) worth of cryptocurrencies from local individuals and businesses in two years as they were not ab...
British Pound Slumps to Lowest Level against Dollar as New Tax Cut Policy Is Unveiled
The British Pound is not alone in its slump against the United States Dollar as other currencies including the Euro are also recording a similar faith. The British Pound Sterling is buckling under the...
MEXC Global Resumes 1.2% Terra LUNA Classic (LUNC) Tax Burn On Spot Trading
– Advertisement – MEXC once again throws its hat in the ring for the LUNC community. In a tweet today, popular Terra Rebel, Vegas revealed that leading crypto exchange MEXC Global appear...
Binance Becoming Serious To Implement Terra Classic 1.2% Tax Burn on Trading, Proposes Three New Steps To Burn LUNC
– Advertisement – Binance’s Changpeng Zhao, CZ, Says LUNC 1.2% Burn Will Be Implemented On Spot Trading After These 3 Steps. CZ expands on Binance’s roadmap to implement the 1.2% burn on a...
IRS to summon users who don’t report and pay tax on crypto transactions
With the crypto community growing bigger and as trading volumes reach new highs, the United States is also making more effort to ensure that its Internal Revenue Service (IRS) could properly collect c...
South Korea Seizes $184 Million in Crypto Assets From Alleged Tax Dodgers, Reports Reveal – Taxes Bitcoin News
The government in South Korea has seized cryptocurrency worth around $184 million in two years due to tax arrears, according to local media. The authorities in Seoul started confiscating virtual asset...
IRS Targets Crypto Tax Evaders With M.Y. Safra Bank Summons Over SFOX Data
The U.S. Internal Revenue Service (IRS) has been granted the authority to issue a ‘John Doe’ summons to M.Y. Safra Bank, a court in New York ruled on Thursday. The summons will oblige the ...
Binance CEO “CZ” Rejects 1.2% Tax Burn Support For Terra Classic (LUNC)
Binance CEO “CZ” in an AMA on Friday said the crypto exchange will not implement the 1.2% tax burn for off-chain transactions of Terra Classic (LUNC) and USTC. As a result, the Terra Classic (LUNC) pr...
Binance CEO says ‘No’ to 1.2% Terra Classic (LUNC) Tax Burn
Binance would not apply the 1.2% tax burn for off-chain transactions of Terra Classic (LUNC) and USTC, as revealed by the CEO “CZ ” in an AMA on Friday. As a result, the price of Terra Classic (LUNC) ...
Group Behind 1.2% Tax Burn For Terra Classic (LUNC) Warns Community
Terra Rebels, the developer group behind the 1.2% tax burn proposal, warns the Terra Classic community about the Baby Luna Classic rug pull. Terra Rebels member reXx said the community needs to be awa...
Binance CEO Changpeng Zhao Rejects Terra 1.2% Tax Burn
10 seconds ago | 2 mins read Exchange News The community is pushing Binance to allow the tax burn on off-chain. The price of Terra Classic (LUNC) dropped by roughly 10% in an hour. In an Ask Me Anythi...
Judge Rules Pittsburgh Must Abandon Its ‘Jock Tax’ On Visiting Players
A court ruled that Jadeveon Clowney will no longer have to pay a fee for the pleasure of sacking a Steelers quarterback in Pittsburgh. Mark Alberti/Icon Sportswire via Getty Images The Steel City can ...
OKX Implements Terra Classic Tax Burn, As Half A Billion LUNC Burnt With 1.2% Burn Proposal
– Advertisement – More exchanges jump on the bandwagon. Leading crypto exchange OKX has implemented the 1.2% tax burn on deposits and withdrawals. It comes nearly a week after it said in ...
GOP Calls Warnock’s Parsonage Benefit A Tax Dodge. It Used To Defend It.
General view of the interior of Ebenezer Baptist Church (Martin Luther King church) in King Historic … [+] District getty The National Republican Senatorial Committee blasts on its website ICYMI...
NY bank ordered to share client user data in IRS crypto tax probe
The Internal Revenue Service (IRS) has issued a court summons forcing M.Y. Safra Bank to share the details of a client’s users in order to crack down on tax evasion in relation to crypto transactions....
The 1.2% Tax Burn Mechanism of Terra Classic (LUNC)
The Terra community introduced a 1.2% tax burn for all on-chain transactions of LUNC on its network. Tax Burn Mechanism on Terra Classic Network On the Terra Classic Network, the Tax Burn mechanism re...
UK should lower crypto tax rate to encourage growth – MP Matt Hancock
Matt Hancock, former Secretary of State for Digital, culture, music, and sport, said the U.K. must take a long-term approach and lower crypto taxes to allow digital innovation to grow. “HMRC has taken...
US IRS Can Issue Summons to Bank Serving Crypto Broker SFOX Customers in Search of Tax Evaders
“The government’s ability to obtain third-party information on those failing to report their gains from digital assets remains a critical tool in catching tax cheats,” IRS Commissioner Charles P...
Tax Collections Are Up 23% As Inflation, Wages And Profits Rise
Internal Revenue Service federal building Washington DC USA getty Tax collections this year in the U.S. are up 23% compared to last year, according to a new study by the Tax Foundation citing Congress...
LUNC’s 1.2% Tax Burn Now Live; Price Not Impacted
The 1.2% tax burn has been successfully implemented at the block height of 9,475,200 on Sept. 21. Proposals 3568 and 4159, which are expected to impose a 1.2% tax burn for on-chain transactions of LUN...
Indian Government Working on How GST Tax Could Be Applied to Crypto – Taxes Bitcoin News
India’s ministry of finance is reportedly working on how the goods and services tax (GST) could apply to crypto transactions. “A better understanding of how cryptocurrencies fit into our legal system ...
Over 9M Terra Classic Burnt By Tax Burn In Few Hours, Here’s How Much LUNC Would Be Burnt Weekly, Monthly & Annually
– Advertisement – Terra LUNA Classic (LUNC) supply has been reduced by over 9 million in just two hours. In just a few hours since the LUNC 1.2% tax proposal went live, over 9 million LU...
Colorado Is The First Ever U.S State That Will Accept Tax Payments In Crypto
The American state of Colorado will now accept cryptocurrency for tax payments, and residents of the city who wish to use this facility can finally start to do so. Governor Jared Polis recently announ...
Crypto.com Announces Support For LUNC 1.2% Tax Burn
As a means of decreasing supply, the LUNC plans to use the Tax Burn strategy. The approved plan will take effect at the block height of 9,475,200. Perhaps the worst cryptocurrency crash ever occurred ...