Tax

Digital currency trading volumes have substantially decreased following the drop in Bitcoin price. Given such a situation on the market, a Japanese lawmaker has suggested adding several amendments to the country’s policy related to crypto activity.

Are Reserve Banks and Treasuries dodging the inclination of digital currencies? Crypto has gathered great momentum in the last few years and has now become a perilous, but very profitable, investment or trading alternative. South Africa has been delaying the regulation of cryptos and for a long time, their use has been totally unregulated.

The 'Buckeye State' is ready to be the first State in the country to accept crypto, specifically Bitcoin (BTC), for payment of tax bills, according to The Wall Street Journal report on November 26. This comes after BTC and other major cryptos have depreciated value over the past week. On Monday, November 26, 2018, BTC was trading below $4,000, down over 80% since the December 2017 all-time-high of around $20,000.

The government of Norway has removed a tax subsidy on electricity currently given to Bitcoin (BTC) miners.

The African continent has been considered to be not embracing the wide use of cryptos as much as other places such as America, Asia, Europe are, but surprisingly enough, it's now running at tremendous speed to become a home for many crypto exchanges, wallets, and tokens just like Malta.

Brazil’s tax authority is concerned over cryptocurrency-related problems, including money laundering and tax evasion. The institution has officially filed a proposal in order to regulate the digital currency field, which was revealed by the Department of Federal Revenue of Brazil (RFB). According to the document, any exchange will need to make financial reports each month.

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.

Russian deputies have removed the definition of cryptocurrency mining from a draft bill on crypto regulation prior to its next reading in the State Duma, however, the new law won't resolve tax concerns for miners.

Digital currencies attracts more and more attention from investors. They are keen on the young developing financial market, however, potential investors still lack ground knowledge of the field. Before investing your money in crypto, you should consider the many risks associated with virtual coins, payments, and tax implications.