Income

Taxes have always been a hard matter for everyone to deal with. Many countries are devising different rules, trying to manage the fintech field. Traders from all parts of the world are facing the necessity to pay taxes from their crypto activity.

A full committee of tax experts in Japan which is responsible for giving advice to the government on taxation issues has called for the loosening of the country's digital currency tax filing process.

Crypto market in Ukraine remains unregulated, however, the government wants to impose taxes on this area anyway. According to an official from the Finance Ministry, a regular income tax is expected to be imposed on any digital currency activity, such as mining or trading.

BEIJING, Aug. 15, 2018 Facepower Asset Chain (FAC) has rolled out a powerful blockchain facility -- a decentralized idol creation ecosystem -- which enables a public, transparent, self-managed and efficient system for investors, fans and idols.

A recently conducted survey by Harris Insights, an analytics firm, discovered that 41% of Americans aren't interested in investing in Cryptos such as Bitcoin, Ethereum, and Ripple, as they believe that nothing could get them to invest their income in the crypto market.

All generated revenues from cryptocurrency operations will be taxed in Azerbaijan, said Nidjat Imanov, Deputy Director of the Department of Tax Policy and Strategic Studies at the Ministry of Taxes.

The South African Revenue Service (SARS) announced in a statement on Friday, April 6, the new tax treatment of digital currencies, obligating citizens to declare any income from trading as well as mining. Disobedience will cost interest and penalties.

That Ministry of Communications and Mass Media of the Russian Federation has put the idea of establishing a cryptocurrency exchange in the country out for consideration. The draft law will enable the government to declare and tax income of those who performed a cryptocurrency exchange.

Mining digital currency is certainly an attractive source of income. Plug in the GPU cards and let the digital gold pour. However, mining bitcoin alone consumes 0.13% of the world’s energy consumption. Fuelling such consumption with anything but renewable energy would have a devastating effect on the environment.