A cryptocurrency tax software startup has integrated with major tax filing software TurboTax. Cryptocurrency-focused tax software CryptoTrader.Tax has integrated with leading American tax software Intuit TurboTax, according to a press release on April 4. The integration will purportedly allow users to export tax calculations from CryptoTrader.Tax to the TurboTax filing software, which will supposedly make […]
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What are the United States tax reporting obligations for those who held, donated or sold/exchanged crypto. Last year was a bear market for cryptocurrencies. Many investors who did not know how to hedge their cryptocurrency investments saw these investments lose value from the market highs of 2017. Facing the deadline to report their taxes by […]
Continue ReadingAccording to Forbes, the Canada Revenue Agency has sent crypto investors lengthy questionnaires regarding their holdings. The Canada Revenue Agency (CRA), the government’s tax collection service, is reportedly auditing investors in cryptocurrencies like Bitcoin (BTC), Forbes reports on March 6. Citing sources close to the matter, Forbes states that the CRA has sent extensive questionnaires […]
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U.S. tax preparation software TurboTax Online has partnered with a crypto startup to add a crypto taxation section to its services. United States tax preparation software TurboTax Online has reportedly partnered with CoinsTax, LLC to offer cryptocurrency tax calculation to its services, a press release reveals Monday, Feb. 4. As the U.S. Internal Revenue Service […]
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The U.K.’s financial watchdog has released a detailed consultation paper on regulation of crypto. On Jan. 23, the United Kingdom’s Financial Conduct Authority’s (FCA), the domestic financial regulator, released a 50-page-long consultation paper dubbed “Guidance on Cryptoassets.” As the U.K. seems to be moving closer toward rolling out a definitive regulatory framework, it is time […]
Continue ReadingMalaysia has given cryptocurrencies the regulatory green light — but they have to adhere to securities laws and will be governed as such. Cryptocurrency exchanges and blockchain-based companies in Malaysia face some testing times following regulatory changes in the country. As of Tuesday, Jan. 15, new regulations governing cryptocurrencies have come into effect in Malaysia. […]
Continue ReadingBitcoin investors in the United States who sold their crypto lost $1.7 billion, but many don’t plan on reporting their gains and losses, a survey shows. Crypto investors in the United States who sold their Bitcoin (BTC) holdings lost $1.7 billion, but many do not plan to deduct the losses, a survey conducted by personal […]
Continue ReadingDenmark’s Tax Authority has been authorized by the country’s Tax Council to obtain information from three domestic crypto exchanges. Denmark’s Tax Authority has been authorized by the country’s Tax Council to obtain information regarding all trades of cryptocurrencies across three domestic crypto exchanges. An official announcement published on the agency’s website reported this development on […]
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British regulators are taking more time over crypto, but this won’t make U.K. legislation more permissive. A significant crypto market slump has brought concern and alarm, but also some unexpected side benefits. One such benefit comes from how financial regulators in the United Kingdom now appear sufficiently relaxed about crypto and its growth that they can […]
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The United States government could regulate crypto assets and tokens differently than stocks and traditional assets. The United States government could regulate crypto assets and tokens differently than stocks and traditional assets by altering the existing regulatory framework on securities. On Dec. 22, CNBC reported that two congressmen — Warren Davidson and Darren Solo — […]
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