South Korea Hints it Might Apply Tax on Cryptocurrencies and Initial Coin Offerings

South Korea Hints it Might Apply Tax on Cryptocurrencies and Initial Coin Offerings

Cryptocurrencies have been the new ‘big thing’ at least since mid-2017. Bitcoin gained a price of nearly US$20,000 in December last year. However, prices of Bitcoin and other cryptocurrencies plummeted in January 2018. They have continued to struggle to gain back the lost ground ever since with little to show for it. The world is starting to calm down about the phenomenon of cryptocurrencies, it would seem. The focus is shifting from cryptocurrencies to blockchain…

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Thailand to Become the First Country to Use Blockchain for Tax Probes

Thailand to Become the First Country to Use Blockchain for Tax Probes

Blockchain technology has seen an increase in its usage across many industries in 2018. Now that the hype of cryptocurrencies has died down, the real power of the crypto world is finally getting some attention. Pharma industry, supply chain programs, freight tracking systems, and cloud computing are just a small subset of the industries that have already initiated plans to incorporate blockchain technology into their systems. However, not many governments had shown the initiative to…

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Sweden Expects an Influx of Business from Across the Border Following Norwegian Crypto Tax Hike

Sweden Expects an Influx of Business from Across the Border Following Norwegian Crypto Tax Hike

Following news that Norway plans to remove electricity subsidies for businesses using data centers to mine cryptocurrency, Sweden plans to fill the gap. Norway plans to remove the subsidies in January 2019, meaning cryptocurrency mining will become very expensive in Norway due to the tax hike involved in the process. Norway cites environment concerns for their decision, but technology experts say the decision will drive innovative crypto business away from Norway and into neighboring countries….

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Ohio Sets a Record as the First State to Accept Bitcoin as a Form of Tax Payment

Ohio Sets a Record as the First State to Accept Bitcoin as a Form of Tax Payment

True, 2018 brought with it lots of groundbreaking events in the crypto sphere but this is on a whole new scale. Although Bitcoin has gained recognition in various industries and sectors, the government has remained adamant in their decision to sit on the fence. This skepticism stems from the fact that the digital economy cuts both ways. If there is anything the government has done so far, it is making strict rules to help protect…

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France Advances towards Less Crypto Taxes with New Amended Bill

France Advances towards Less Crypto Taxes with New Amended Bill

On Wednesday November 7 the French National Assembly’s Finance Committee amended the bill of finance to “clarify and simplify the tax regime applicable to crypto-assets.” The amendments will come into play from January 1, 2019. Key Points: A 30% one-off flat rate fee will be applied to profits from the sale of crypto assets. This would apply to any crypto assets that are converted into “lawful” currency, or assets “used as a means of payment…

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Former Prominent Libertarian Congressman Ron Paul: Full Tax Exemption on Cryptocurrency

Former Prominent Libertarian Congressman Ron Paul: Full Tax Exemption on Cryptocurrency

One of the most fascinating political figures in U.S. politics – although he was largely ignored by the media – is the former libertarian congressman from Texas Ron Paul. As an active congressman, Paul was critical of both sides of the political aisle and was not distinctly associated with either side; today, as a political commentator and pundit (primarily on the social media), Paul still doesn’t align with any specific side – sometimes he censures…

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