How are cryptocurrency taxes reported?
Cryptocurrencies are treated differently than standard assets, which, when combined with the limited CPA resources with extensive knowledge on cryptocurrency taxation, result in a stressful tax season. The current framework is complex to navigate since the IRS treats cryptocurrencies like Bitcoin (BTC) and nonfungible tokens (NFTs) differently from other assets, classifying them as property. Since […]
South Korean Prime Minister nominee to look into controversial crypto tax law
Kim Boo-kyum, recently nominated as Prime Minister by South Korea’s President Moon Jae-in, has said he will look into the country’s crypto tax law. According to a report by KBS World, the Prime Minister nominee is keen to ensure that there are no victims of the crypto tax law coming into effect in January 2022. […]