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Libra Could Pose Tax Challenges In Europe

PYMNTS

With the idea of pegging Libra’s value to a basket of international currencies, Facebook ’s proposed cryptocurrency would bring tax challenges to European users, per tax lawyers. However, the tax would only be payable in the event that total capital gains are more than the annual capital gains tax exemption of £12,000.

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Bitcoin Daily: S. Korea Eyes Crypto Capital Gains Tax; Crypto Lawyers See Rise In Demand

PYMNTS

South Korean crypto users might soon see 20 percent taxes on their currency, according to Cointelgraph. Proposed amendments to existing bills want to classify cryptocurrencies as goods rather than currencies. Celebrities including Floyd Mayweather and DJ Khaled backed the project on social media. And, the U.S.

Taxes 170
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Bitcoin Daily: Binance Tells US Users To Take Out All Funds; OKEx To Reportedly Restart Withdrawals; S Korea Seeks To Postpone Crypto Tax Law; Coinbase To Only Provide IRS Form 1099-MISC

PYMNTS

CryptoQuant CEO Ki Young Ju said on social media that the resumption of the withdrawal service could lead to pricing volatility, and CryptoQuant data indicates that OKEx has been experimenting with opening its withdraw infrastructure again. 27 Hong Kong Standard Time date as noted in the past.

Taxes 243
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Protect Yourself: ATO Impersonation Scams and Tax Return Investments

Qudos Bank

With it being tax season time, it’s important that you remain vigilant when it comes to lodging your tax return as scammers will take the opportunity to impersonate the Australian Taxation Office (ATO) and coerce you into supplying your details so they can steal your funds.

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IRS Cracking Down On Crypto-Holding Taxpayers

PYMNTS

The Internal Revenue Service (IRS) is going to send letters to about 10,000 cryptocurrency holders warning them about the penalties they will face if they don’t report their income or pay taxes on the transactions, according to a report by The Wall Street Journal. at the World Bank.

Taxes 128
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Bitcoin Daily: France Votes To Include Crypto In Insurance Contracts; VC Draper Could Team With Facebook For Crypto Venture

PYMNTS

The National Assembly of France has voted to allow local insurance companies to include cryptocurrencies in life insurance contracts. With these two provisions, it is written in black and white that SPFs can invest in cryptocurrencies like bitcoin,” said Simmons & Simmons attorney Emilien Bernard-Alzias, according to CCN.

Bitcoin 187
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US Treasury Secretary Sees Libra As National Security Threat

PYMNTS

Treasury Secretary Steven Mnuchin believes that Facebook’s proposed cryptocurrency could pose as a national security threat. Mnuchin added that the Treasury has informed Facebook, as well as other cryptocurrency users, that they need to implement the same anti-money-laundering and counter-terrorism safeguards as other financial institutions.

National 187