7 articles tagged with #crypto-tax. AI-curated summaries with sentiment analysis and key takeaways from 50+ sources.
The IRS proposes requiring crypto exchanges to file Form 1099-DA electronically, which reports digital asset trades. Exchanges may refuse service to customers who decline to provide necessary tax documentation under this new requirement.
Japan is advancing comprehensive cryptocurrency legislation that integrates digital assets into traditional financial frameworks. Key reforms include implementing a flat 20% tax on crypto gains (down from higher rates), allowing three-year loss carryforwards, establishing insider trading rules for crypto markets, and enabling banks to offer custodial services for digital assets.
New IRS cryptocurrency reporting rules are expected to create significant complexity for the upcoming tax season. DeFi traders with multiple wallets and exchanges will face particular challenges in compliance and reporting requirements.
The EU is implementing new cryptocurrency tax rules starting in 2026 that will require crypto platforms to report user data and transaction information to tax authorities. These regulations aim to increase tax transparency and compliance for digital asset transactions across European Union member states.
Wyoming Senator Cynthia Lummis is advancing pro-cryptocurrency policies through a market structure bill currently under Senate consideration. Despite her upcoming departure from Congress in January 2027, she continues to champion crypto tax exemption measures and supportive regulatory framework.
Turkey's ruling party has proposed a 10% tax on cryptocurrency gains from regulated platforms, to be withheld quarterly. The president would have authority to adjust the tax rate between 0% and 20%.
The Dutch government acknowledges issues with their tax law on unrealized cryptocurrency gains and plans to amend it, admitting 'something simply went wrong' with the current legislation. The extent of changes needed is unclear, ranging from partial amendments to complete reworking of the law.
