taxes

According to CoinDesk, Kraken stated that it has submitted 56 million cryptocurrency transaction tax forms to the IRS for the 2025 tax year, of which approximately 18.5 million correspond to amounts below $1, 74% are below $50, and only 8.5% exceed $600.Kraken pointed out that the lack of a minimum amount tax exemption rule for cryptocurrency payments, as well as the taxation of staking rewards as ordinary income at the time of receipt, is placing a heavy reporting burden on investors. Kraken is calling on the U.S. Congress to promote a broader minimum amount tax exemption policy linked to inflation and to allow taxpayers to choose to be taxed on staking rewards at the time of receipt or sale.

According to market news, the Federal Tax Service of Russia announced that cryptocurrency miners will pay approximately 567 million rubles (about 7 million USD) in taxes to the state in 2025, of which 84 million rubles will be personal income tax and 483 million rubles will be corporate income tax. This figure is far lower than the previously expected 6 billion rubles (about 74 million USD).Officials pointed out that factors leading to the reduction in tax revenue include: rising electricity prices in Russia, high global hash rate of the Bitcoin network, a declining dollar to ruble exchange rate, falling Bitcoin prices, and limited legalization of mining. Russia legalized mining through legislation in 2024, requiring legal entities and individual entrepreneurs to register with the tax authorities, but currently, more than two-thirds of mining companies have not yet registered.

Bitcoin treasury company Strive director Pierre Rochard stated that Dubai, El Salvador, Thailand, Puerto Rico, Singapore, and Germany (after holding for one year) do not tax Bitcoin, and that the U.S. taxing Bitcoin is "unreasonable."Pierre Rochard described the relevant policies as a poor choice that undermines Trump's proposed "Bitcoin superpower" plan.

According to NL Times, the Dutch House of Representatives recently debated plans to amend the third category (Box 3) tax system.The proposal plans to tax capital gains (including realized and unrealized gains) on assets such as stocks, bonds, and cryptocurrencies annually starting in 2028. Although most lawmakers believe the proposal still has flaws and that taxing unrealized gains is not ideal, it is expected to gain majority support due to the estimated loss of about 2.3 billion euros to the treasury each year if implementation is delayed.

The "Plan ₿" project in Lugano, Switzerland has made significant progress, allowing residents to pay various municipal bills, including taxes, parking fines, and tuition fees, using Bitcoin (BTC) or Tether (USDT).Launched in 2022 in collaboration with Tether, the project aims to establish decentralized financial infrastructure. Currently, over 350 merchants in Lugano accept cryptocurrency payments, with transaction fees processed through the Bitcoin Lightning Network typically below 1%, far lower than the approximately 3% rate of traditional credit cards. To promote adoption, the city government provides merchants with smart POS terminal devices free of charge.Lugano has also established a circular economy system through the MyLugano app, where users can earn up to 10% cashback in LVGA tokens when spending cryptocurrency at participating stores. These tokens can be used to pay for municipal services, public parking, and childcare fees.The project has attracted over 110 crypto-related startups to the area, and the fourth Plan ₿ Forum, held in October 2025, attracted 4,000 participants from 64 countries, a 140% increase since the project's launch.

According to The Block, Congressman Max Miller (R-OH) and Steven Horsford (D-NV) are drafting a cryptocurrency tax bill called the Digital Asset PARITY Act.The bill will provide tax benefits for certain stablecoin transactions and delay taxation on rewards for validating blockchain transactions. The legislation will exempt capital gains tax on stablecoin transactions below $200. As a compromise between the IRS's current guidance and industry demands, taxpayers will have the option to defer taxes on staking and mining rewards for five years, after which they will be taxed as ordinary income at fair market value.The bill will extend wash sale rules (which prevent investors from selling at a loss and immediately repurchasing to claim tax credits) to digital assets and allow traders to use the mark-to-market method for accounting.

According to The Block, UK Chancellor of the Exchequer Rachel Reeves did not propose any new tax increases on cryptocurrencies in the latest autumn statement, maintaining the same tax treatment for crypto assets as for other asset classes.However, the government is pushing for stricter reporting and regulatory measures, including the upcoming Crypto-Asset Reporting Framework (CARF) global tax transparency system set to be implemented in 2026. Industry professionals welcome the entrepreneurial support measures but warn that the overall tax and regulatory environment in the UK could undermine its global competitiveness in the fintech and digital asset sectors. Experts are concerned that a lack of sufficient incentives may lead high-growth fintech, AI, and Web3 companies to choose to develop in other jurisdictions, further exacerbating the talent drain recently observed in the UK.

ChainCatcher news, according to Crypto In America, the U.S. Treasury is preparing to formally relax a proposed rule. This rule was originally intended to impose a 15% tax on unrealized Bitcoin gains held by companies like Strategy under the Corporate Alternative Minimum Tax (CAMT) legislation.The CAMT legislation requires large companies to pay a minimum tax on their financial statement income. Under current accounting standards, companies must value their held cryptocurrencies at market value, which means that even without selling, their book profits (unrealized gains) will be taxed.Previously, companies like Strategy and Coinbase had written to the Treasury, arguing that taxing unrealized gains on digital assets is unfair and would force U.S. companies to sell assets to pay taxes, putting them at a disadvantage in global competition.

ChainCatcher news, according to Cointelegraph, Giggle Academy founded by CZ (Changpeng Zhao) raised over $1 million within 9 hours of opening public donations.GiggleFund responded that most of the funds came from the 5% transaction tax generated by a $20 million trading volume of the $GIGGLE token.

ChainCatcher news, according to News 1, the South Korean exchange Coinone sold virtual assets worth approximately 4.356 billion won (about 3.09 million USD) to Upbit and Korbit between the 8th and 31st of last month.Benefiting from the price increase, Coinone realized an additional profit of about 220 million won. This sale aligns with the "Roadmap for Corporate Participation in the Virtual Asset Market" announced by the Financial Services Commission of South Korea in February this year, allowing non-profit organizations and exchanges to liquidate virtual assets for personnel costs and tax expenditures.Coinone stated that the related funds will also be used to cover other operating costs.

ChainCatcher News: U.S. President Trump stated on social media that he will take strong measures against countries implementing digital taxes, digital services legislation, or digital market regulations. He accused these policies of aiming to harm or discriminate against American tech companies while giving special treatment to large Chinese tech firms.Trump warned that if these discriminatory policies are not revoked, he will impose additional tariffs on exports from the relevant countries and restrict the export of American technology and chips. He emphasized that American tech companies are no longer the "piggy bank" or "doormat" of the world, calling on countries to respect the U.S. and its tech enterprises, or face consequences. (Jinshi)

ChainCatcher news, Bitinning founder Kashif Raza posted on the X platform that the Indian Central Board of Direct Taxes has begun discussions with cryptocurrency exchanges in India and has requested responses regarding issues related to digital assets.

ChainCatcher news, according to Cryptonews, the Gangnam District of Seoul is strengthening tax enforcement actions against cryptocurrency holders. Since the end of last year, the district has recovered approximately 340 million won (about 245,000 USD) in unpaid taxes through the seizure of cryptocurrencies. Gangnam District has collaborated with five major cryptocurrency exchanges in South Korea to seize cryptocurrencies such as Bitcoin in order to recover unpaid taxes. District officials stated that many residents hold significant virtual assets, and after seizing these assets, the voluntary payment rate of unpaid taxes has significantly increased.

ChainCatcher news, according to Jinshi reports, the short-term increase in spot gold has expanded to $13, after Trump stated that he would not impose taxes on gold.

ChainCatcher news, according to The Block, the White House Digital Assets Working Group has suggested in a 168-page report that the IRS clarify the tax timing for Bitcoin mining income, or alternatively, tax it at the time of sale to avoid "double taxation" of "mining income tax + capital gains on sale."BitFuFu CEO Leo Lu stated that this move could significantly reduce the tax burden on miners and accelerate the mainstream adoption of Bitcoin. Similar tax deferral proposals have already been introduced in Congress, such as H.R.8149.

ChainCatcher news, according to Decrypt, the White House proposed on Wednesday local time that Congress consider legislation requiring American taxpayers to report "overseas digital asset accounts." The Trump administration stated that this move would help prevent Americans from transferring crypto assets overseas.The policy proposal states that this policy shift will "promote the development and use of digital assets in the United States and alleviate concerns that the lack of a reporting mechanism could put the U.S. or U.S. digital asset trading platforms at a disadvantage."This suggestion is one of several proposals in a 168-page crypto report released by the Digital Asset Market Working Group on Wednesday. The working group is led by David Sacks, the White House's Director of Crypto and Artificial Intelligence Affairs.

ChainCatcher news, according to Jinshi reports, U.S. President Trump stated that he hopes to introduce a tax and spending bill around July 4th.

ChainCatcher news, Michael Saylor tweeted: "If the U.S. is to become the world's Bitcoin superpower, we must end the unfair taxation of Bitcoin miners."Senator Lummis pointed out that for years miners and stakers have faced double taxation—once when receiving block rewards and once when selling. Both believe that reforming this unfair tax system is crucial to ensuring America's leadership in the global Bitcoin and cryptocurrency space.

ChainCatcher news, according to Cointelegraph, musician Jonathan Mann nearly lost all his funds after earning $3 million through NFT sales due to the cryptocurrency market crash and tax issues. He turned this experience into a song to warn crypto investors about tax risks.In January 2022, Mann sold 3,700 songs as NFTs at a price of $800 each, earning about $3 million in ETH. Due to not cashing out in time and the drop in ETH prices, he faced a requirement from the IRS to pay taxes on the full income, amounting to $1.095 million. To offset the taxes, he collateralized his ETH to borrow through Aave, but lost 300 ETH in a chain liquidation triggered by the collapse of the Terra ecosystem. Ultimately, he was forced to sell an Autoglyph NFT he had purchased earlier for $1.1 million to pay the taxes. Mann stated that despite the heavy blow, he continues to create and release NFT songs daily, hoping to achieve success again.

ChainCatcher news, according to Bitcoin.com, the Brazilian government is considering taxing cryptocurrency transactions to mitigate the social impact of the increase in the financial transaction tax (IOF).After the government announced the increase in the IOF tax rate on May 22, House Speaker Hugo Motta proposed including cryptocurrencies in the tax scope during a public speech, but emphasized that the proposal has not been finalized. This proposal has sparked controversy in the Brazilian crypto industry. Mercado Bitcoin's Vice President of Legal Affairs, Vanessa Butalla, pointed out that taxing cryptocurrencies under the current regulations of the Brazilian tax authority is equivalent to taxing investment properties, which lacks legal basis. Daniel de Paiva Gomes, a partner at Paiva Gomes Law Firm, further emphasized that only congressional legislation can classify cryptocurrencies as taxable assets, and the government only has the authority to adjust tax rates and deadlines.