According to Representative Warren Davidson, legislation to address the U.S. debt ceiling blocks “proposed taxes,” including a 30% tax on electricity used by crypto miners.
U.S. President Joe Biden expressed opposition to a debt ceiling deal that would allegedly benefit crypto traders.
DAC8 extends tax reporting procedures to crypto transfers in line with the OECD crypto reporting framework and EU AML rules.
Prime Minister Daniel Risch of Liechtenstein told local papers that Bitcoin is set to play a growing role in government services payments.
A recently published study appears to advocate for the isolation of crypto assets from other tax deductions, where losses are concerned.
Deloitte highlights its commitment to Web3 and crypto through its intent to hire cryptocurrency experts to join its team, with over 300 positions posted on LinkedIn.
Crypto taxation remains to be a controversial space, though some transparency is expected.
According to the fiscal authority, the number of potential taxpayers who failed to declare their crypto assets rose by 40% in a year.
A change to R&D tax rules means that a tech company could lose more than $1 million — but still be on the hook for hundreds of thousands in taxes.
In total, 27 Ethereum projects joined the initiative as launch partners, which includes Balancer, Gnosis DAO, Shapeshift, and StakeDAO, to name a few.
