taxes | ForkLog

ForkLog 37 21.02.2025

Crypto Investors See Average Profit of $5482 in 2024, Report Reveals

The average realised profit for digital asset holders in 2024 amounted to $5482 compared to $888 in the previous 12 months. These estimates were presented by specialists from the tax platform CoinLedger, reports The Block. The greatest unrealised profits were brought by Bitcoin, Hyperliquid, SuperVerse, Shiba Inu, and Render. “Cryptocurrencies are in a bull market. […]

AI translated

ForkLog 21 19.02.2025

Nigeria Files $81.5 Billion Lawsuit Against Binance

The Nigerian authorities have initiated a lawsuit against the cryptocurrency exchange Binance, seeking compensation totaling $81.5 billion. This was reported by Reuters, citing court documents. The claim includes $79.5 billion for alleged economic damages and $2 billion for unpaid taxes over two years. According to the Federal Inland Revenue Service of Nigeria (FIRS), Binance has […]

AI translated

ForkLog 35 03.02.2025

Russian Tax Authority Introduces Bitcoin Mining Section on Website

The Federal Tax Service (FTS) of Russia has introduced a section for miners in users’ personal accounts, allowing them to report the receipt of digital currency. Individuals must fill out the “Mining” form, while legal entities and individual entrepreneurs are required to complete the “Digital Currency Mining” form. The latter two must be included in […]

AI translated

ForkLog 36 30.01.2025

Ukrainian Cryptocurrency Exchange Kuna to Cease Operations

Mykhailo Chobanyan, the founder of the Ukrainian cryptocurrency exchange Kuna, has decided to cease the company’s operations in all countries. He announced this on his Telegram channel. “I have decided to cease all commercial activities,” the businessman stated. Users will be able to withdraw their balances during a two-month transition period. “The code, cleansed of […]

AI translated

ForkLog 50 27.01.2025

Jameson Lopp Suggests Roger Ver Lacks Funds for Tax Payment

Accused by the IRS of tax evasion, Bitcoin.com founder Roger Ver refuses to settle out of court, either on principle or due to a lack of funds, according to Casa co-founder and CTO Jameson Lopp. A lot of you have clearly fallen for Roger Ver’s political persecution ploy and don’t actually understand the charges against […]

AI translated

ForkLog 12 24.01.2025

MicroStrategy to Redeem $1.05 Billion in Bonds Early

MicroStrategy has announced plans to redeem convertible bonds worth approximately $1.05 billion, originally due in 2027. MicroStrategy to Redeem $1.05B of 2027 Convertible Notes and Settle All Conversion Requests in Shares $MSTR https://t.co/yVBb06wkBY — Michael Saylor⚡️ (@saylor) January 24, 2025 Until February 20, investors can exchange each $1000 in bonds for 7.02 shares of Class […]

AI translated

ForkLog 22 30.12.2024

US Tax Authority Faces Lawsuit Over DeFi Broker Regulations

The Blockchain Association, Texas Blockchain Council, and DeFi Education Fund have petitioned the court to prevent the US Internal Revenue Service (IRS) from enforcing information disclosure rules on DeFi companies. 1/ Yesterday, @blockchainassn @fund_defi @texasblockchain_ filed a lawsuit against the IRS challenging yesterday’s finalization of the broker rule. The rule violates the Administrative Procedure Act […]

AI translated

ForkLog 17 28.12.2024

IRS to Impose Taxes on DeFi Platforms

The United States Internal Revenue Service (IRS) has introduced regulations requiring “brokers from the DeFi segment” to report gross income from crypto asset transactions.

AI translated

ForkLog 36 27.12.2024

Kyrgyzstan’s Tax Revenue from Cryptocurrency Miners Halves

In 2024, cryptocurrency mining taxes contributed over 46.6 million Kyrgyz soms ($535,000) to the national budget of Kyrgyzstan, according to a report by the Ministry of Economy and Finance. However, local media report that this figure represents a 50% year-on-year decline. In 2023, miners paid 93.7 million soms (over $1 million) in taxes. Source: Ministry […]

AI translated

ForkLog 19 25.12.2024

Where is it Cheaper to Invest? Cryptocurrency Taxation in the US, EU, and UK

As the crypto industry evolves, governments have been compelled to develop specific tax legislation. We examine the current state of affairs in major jurisdictions. United States In the US, cryptocurrencies are taxed similarly to traditional securities. The specific rate depends on how the assets were acquired and how long they are held. Profits from investments […]

AI translated

ForkLog 440 22.12.2024

HEX Founder Richard Heart Placed on Interpol’s Most Wanted List

Interpol has issued a “red notice” on behalf of Finland for Richard James Schueler, the founder of HEX, PulseChain, and PulseX, better known in the cryptocurrency industry as Richard Heart. Source: Interpol. He is wanted for deliberate tax evasion and assault. According to the Europol website, Heart is listed among the EU’s most wanted criminals. […]

AI translated

ForkLog 40 13.12.2024

US Crypto Trader Sentenced to Prison for Tax Evasion

On December 12, a court in the Western District of Texas sentenced local resident Frank Algren III to two years in prison for submitting false income data from bitcoin sales. “Frank Algren III made millions buying and selling bitcoins. But instead of paying the taxes he knew were due, he lied to his accountant about […]

AI translated

#taxes