Daniil Egorov, head of Russia’s Federal Tax Service, mentioned cryptocurrencies as a potential means for tax evasion, in an interview with the Russian news agency RBC.Asked if he noticed any “innovative” tax evasion schemes recently, Egorov mentioned crypto. ”We are watching this market closely and understand that this payment system can significantly erode the taxation base,” … [Read more...] about Russia’s Chief Taxman Says Crypto Could Erode State Taxation Profits
Taxation
Privacy coin Monero pumps 31% amid US taxation plans
Coinciding with news that United States President Joe Biden’s proposed tax plan would require tax reporting on business transactions exceeding $10,000, the value of privacy coin Monero (XMR) climbed 31% on Friday. Biden’s American Families tax plan would require exchanges and custodians to implement tighter reporting measures to help detect tax evasion and money laundering. … [Read more...] about Privacy coin Monero pumps 31% amid US taxation plans
Korea weighs delaying crypto taxation laws to appeal to young voters
South Korean officials are in talks to delay a crypto taxation law scheduled for later this year, as per a report by local daily Hankyung today.The country boasts one of the highest crypto trading volumes, recently even surpassed those of its stock market, with youngsters—plagued with a slow economy and high unemployment—said to turn to the crypto market to seek and make … [Read more...] about Korea weighs delaying crypto taxation laws to appeal to young voters