Global #crypto tax

South Korean lawmakers remain deeply divided over the implementation of a crypto tax law that is set to take effect on January 1, 2025.

Israel's State Comptroller, Matanyahu Englman, has sharply criticized the Tax Authority for its failure to strengthen efforts to collect taxes on cryptocurrency transactions, highlighting a significant gap in the country's tax collection capabilities.

The Dutch government is seeking public feedback on proposed legislation that would require cryptocurrency service providers, including exchanges, to collect and share user data with the local tax agency, aligning with European Union regulations.

In a bold statement at the recent Token2049 conference in Singapore, Chainalysis CEO Michael Gronager predicted that government prosecutors and tax authorities will increasingly harness artificial intelligence (AI) to combat crime on the blockchain within the next five years.

The U.S. Internal Revenue Service (IRS) has introduced a new draft of Form 1099-DA, aiming to streamline the reporting process for digital asset transactions. This revision marks a significant shift from earlier drafts, addressing privacy concerns and simplifying tax compliance for investors in the growing digital asset market.

Indonesia's cryptocurrency sector is experiencing a notable growth trajectory, significantly impacting the country’s tax revenue from digital economic activities. This uptick in revenue comes amid a broader surge in cryptocurrency transactions as more individuals turn to digital assets to hedge against market volatility.