Taxation of Crypto Assets
Taxation of Crypto Assets

Author: Niklas Schmidt

Publisher: Kluwer Law International B.V.

Published: 2020-11-27

Total Pages: 677

ISBN-13: 9403523514

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The emergence of crypto assets has required taxation authorities worldwide to develop unprecedented policies and compelled tax lawyers to apply existing laws in new ways. This book – the only one to focus solely on the taxation of crypto assets – provides a detailed country-by-country analysis of how the tax law of thirty-nine countries may apply to this rapidly developing area, including different use cases and compliance and documentation requirements. Following an overview of the technology and key characteristics of crypto assets, as well as the key tax concepts and types of taxes that could apply to them, leading practitioners in each particular jurisdiction summarize the relevant tax law in that country. Fully explained are such aspects of crypto assets as the following and how they are interrelated: sales; exchanges; receipt as remuneration; forks; airdrops; mining; staking; initial coin offerings; security token offerings; and initial exchange offerings. Contributors describe how each jurisdiction applies income and capital gains taxation, value-added tax and sales tax, withholding taxes, transfer taxes, and gift, inheritance, estate and wealth taxes in the context of crypto assets. Reporting requirements and enforcement are also covered. Tax law, as it applies to crypto assets, is new and continues to evolve. This book will be welcomed as the premier resource for tax practitioners, government officials, advisors, investors, issuers, users of crypto assets, and taxation academics who are seeking informed awareness of the policy choices countries make in dealing with the taxation of this new technology. Tax lawyers dealing with crypto assets will have comprehensive practical guidance on how to comply with the tax laws of multiple jurisdictions.

Taxing Cryptocurrencies
Taxing Cryptocurrencies

Author: Katherine Baer

Publisher: International Monetary Fund

Published: 2023-07-05

Total Pages: 35

ISBN-13:

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Policymakers are struggling to accommodate cryptocurrencies within tax systems not designed to handle them; this paper reviews the issues that arise. The greatest challenges are for implementation: crypto's quasi-anonymity is an inherent obstacle to third-party reporting. Design problems arise from cryptocurrencies' dual nature as investment assets and means of payment: more straightforward is a compelling case for corrective taxation of carbon-intensive mining. Ownership is highly concentrated at the top, but many crypto investors have only moderate incomes. The capital gains tax revenue at stake worldwide may be in the tens of billions of dollars, but the more profound risks may ultimately be for VAT/sales taxes.

Bitcoin Tax Havens
Bitcoin Tax Havens

Author: Jean Franco Fernández Clark

Publisher: Jean Franco Fernández Clark

Published: 2021-06-19

Total Pages: 33

ISBN-13:

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Most crypto generate Capital Gains Tax when sold. Tax havens can help you reduce, legally, yBitcoin or any other cryptocurrency increase in value is considered, in general, capital gain. Any offshore tax planning in order to optimize the crypto tax bill shall be pursuant and respectful of international tax laws as for any other type of asset tax planning, having in mind the particularities of this new assets, banking restrictions, and value fluctuation. The Capital Gain Tax Base is the difference between the value you acquired the asset, and the selling price. Any country or jurisdiction that does not tax capital gains, or has a territorial tax system, can be considered a crypto tax haven. Some jurisdiction tax capital gains but specifically exclude crypto earnings from taxation. Real Estate Property Capital Gain is usually levied in the country where it is located, so even if you move your tax residency, you might be withheld tax on those capital gains when triggered. One of the benefits of Crypto is that, different from Real Estate, is not an immovable property, so you can implement certain tax strategies to optimize your tax earnings when you cash out, like moving the crypto to another entity, or moving your residency. Finally, there are other types of bitcoin “offshore jurisdictions” or “tax havens” where the benefit is not just taxes, but the ability to launch an ICO or Crypto Exchange, with fewer regulations in comparison to other jurisdictions. our tax base. The information contained in this book comes from personal experience only and the author’s personal point of view, and it, in any way, shall not constitute legal, tax, or financial advice. You must get the advice from a license attorney, accountant, or financial services provider. This short book will cover, in a general manner: -What to be aware of in regards to crypto taxation, including capital gains, exit tax, changing your tax residency, and more. -Banks Common Reporting Standards and why most banks are reluctant to working with crypto businesess. -Crypto friendly jurisdictions that don't tax crypto gains and / or capital gains in general, including how to buy a second passport or get express permanent visa, where to open an offshore bank account that won't block crypto transaction conversion to fiat. - A simple yet effective offshore structure with a bank account that will allow you to trade bitcoin tax free. -Nominee Shareholders The content herein won't make you a tax expert, but will give you an insight before you engage a licensed lawyer Content Quality Disclaimer: Please note that the content in this book will not make you an expert. It addresses superficially generalities in regards to crypto taxation and how to optimize your taxes. In order to get an specific Price justification: International Tax Counseling usually starts at 100$ per hour, and can get up to four figures hourly rate or more. Hence, the price of this book matches its content. About the Author: International Tax Lawyer. Speaks English, Spanish, French, Italian, Russian.

Regulation of Cryptocurrencies and Blockchain Technologies
Regulation of Cryptocurrencies and Blockchain Technologies

Author: Rosario Girasa

Publisher: Springer

Published: 2018-06-29

Total Pages: 285

ISBN-13: 3319785095

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The book highlights the rise of Bitcoin, which is based on blockchain technology, and some of the many types of coins and tokens that emerged thereafter. Although Bitcoin and other cryptocurrencies have made national and international news with their dramatic rise and decline in value, nevertheless the underlying technology is being adopted by both industry and governments, which have noted the benefits of speed, cost efficiency, and protection from hacking. Based on numerous downloaded articles, laws, cases, and other materials, the book discusses the digital transformation, the types of cryptocurrencies, key actors, and the benefits and risks. It also addresses legal issues of digital technology and the evolving U.S. federal regulation. The varying treatment by individual U.S. states is reviewed together with attempts by organizations to arrive at a uniform regulatory regime. Both civil and criminal prosecutions are highlighted with an examination of the major cases that have arisen. Whether and how to tax cryptocurrency transactions both in the U.S. and internationally are analyzed, and ends with a speculative narrative of future developments.

Blockchain Economics and Financial Market Innovation
Blockchain Economics and Financial Market Innovation

Author: Umit Hacioglu

Publisher: Springer Nature

Published: 2019-12-03

Total Pages: 568

ISBN-13: 3030252752

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This book discusses various aspects of blockchains in economic systems and investment strategies in crypto markets. It first addresses the topic from a conceptual and theoretical point of view, and then analyzes it from an assessment and investment angle. Further, it examines the opportunities and limitations of the taxation of crypto currency, as well as the political implications, such as regulation of speculation with crypto currencies. The book is intended for academicians and students in the fields of economics and finance.

Understanding cryptocurrency fraud
Understanding cryptocurrency fraud

Author: Shaen Corbet

Publisher: Walter de Gruyter GmbH & Co KG

Published: 2021-12-06

Total Pages: 217

ISBN-13: 311071857X

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This handbook focuses on the key issues that continue to hinder the formal development of cryptocurrencies as a mainstream financial asset. It primarily examines reputationally damaging events, particularly those related to illicit behavior. The goal of the handbook is to determine whether some of these events could be mitigated by improved or at least coordinated international regulation. The handbook will be useful for specialist technical audiences such as legal, accounting and financial practices. It will also be beneficial for upper level masters and research students in economics, law, accounting, taxation, investment and portfolio management.

Cryptoassets
Cryptoassets

Author: Chris Brummer

Publisher: Oxford University Press

Published: 2019-09-12

Total Pages: 457

ISBN-13: 0190077344

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Cryptoassets represent one of the most high profile financial products in the world, and fastest growing financial products in history. From Bitcoin, Etherium and Ripple's XRP-so called "utility tokens" used to access financial services-to initial coin offerings that in 2017 rivalled venture capital in money raised for startups, with an estimated $5.6 billion (USD) raised worldwide across 435 ICOs. All the while, technologists have hailed the underlying blockchain technology for these assets as potentially game changing applications for financial payments and record-keeping. At the same time, cryptoassets have produced considerable controversy. Many have turned out to be lacklustre investments for investors. Others, especially ICOs, have also attracted noticeable fraud, failing firms, and alarming lapses in information-sharing with investors. Consequently, many commentators around the world have pressed that ICO tokens be considered securities, and that concomitant registration and disclosure requirements attach to their sales to the public. This volume assembles an impressive group of scholars, businesspersons and regulators to collectively write on cryptoassets. This volume represents perspectives from across the regulatory ecosystem, and includes technologists, venture capitalists, scholars, and practitioners in securities law and central banking.

Virtual Currencies and Beyond
Virtual Currencies and Beyond

Author: Mr.Dong He

Publisher: International Monetary Fund

Published: 2016-01-20

Total Pages: 42

ISBN-13: 149836327X

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New technologies are driving transformational changes in the global financial system. Virtual currencies (VCs) and the underlying distributed ledger systems are among these. VCs offer many potential benefits, but also considerable risks. VCs could raise efficiency and in the long run strengthen financial inclusion. At the same time, VCs could be potential vehicles for money laundering, terrorist financing, tax evasion and fraud. While risks to the conduct of monetary policy seem less likely to arise at this stage given the very small scale of VCs, risks to financial stability may eventually emerge as the new technologies become more widely used. National authorities have begun to address these challenges and will need to calibrate regulation in a manner that appropriately addresses the risks without stifling innovation. As experience is gained, international standards and best practices could be considered to provide guidance on the most appropriate regulatory responses in different fields, thereby promoting harmonization and cooperation across jurisdictions.

The Everything Guide to Investing in Cryptocurrency
The Everything Guide to Investing in Cryptocurrency

Author: Ryan Derousseau

Publisher: Simon and Schuster

Published: 2019-03-05

Total Pages: 288

ISBN-13: 1507209339

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Maximize your money while avoiding the potential pitfalls of investing in cryptocurrency—this handy guide shows you how to get in from the bottom up in this hot new market. Cryptocurrency—a digital asset that uses cryptography to secure all of its transactions, making it nearly impossible to counterfeit—is moving into the mainstream, receiving coverage from major financial websites such as Forbes and Bloomberg, as well as increased attention from serious financial institutions, and experiencing wider availability in trusted markets, such as the world’s largest futures exchange, Chicago Mercantile Exchange. As the price of Bitcoin and other cryptocurrencies continue to fluctuate and and news stories of cryptocurrency hackers increase, investors have to be more conscious of the huge opportunities and large risks in this market. Understanding these risks and rewards of cryptocurrency is vital for everyone wanting to make money on this exciting new form of investing. The Everything Guide to Investing in Cryptocurrency is an authoritative and comprehensive guide to help you safely jump into the lucrative world of e-commerce. You’ll learn: —The different major cryptocurrencies, including Bitcoin, litecoin, and ethereum —Where to buy and sell cryptocurrencies safely and securely —Setting up and managing your cryptocurrency wallet —Properly analyzing their investments Leap into cryptocurrencies with a full understanding of what you’re investing in. With the help of The Everything Guide to Investing in Cryptocurrencies, you’ll maximize your gains and minimize your risks in this radical new frontier.