• Malta
    Cryptocurrencies,  Europe,  Innovators

    Binance shines light on Malta as crypto’s new tax haven

    Now all you have to do is move there

    Good news for European Binance customers: The one-year-old cryptocurrency exchange based in Hong Kong is looking to set up shop on Malta The prime minister of Malta personally welcomed the crypto behemoth to the Mediterranean island nation between Sicily and Tunisia. The move may be good news for the EU’s wealthy, too. On Thursday, , the exchange got a slap on the wrist from Japan for operating without registering first. A few hours later, the company’s CEO, Zhao Changpeng, told Bloomberg that Binance will start a “fiat-to-crypto exchange” on Malta instead. Prime Minister Joseph Muscat personally tweeted his greeting to company: Welcome to #Malta 🇲🇹 @binance. We aim to be…

  • bitcoin taxes
    Alt coins,  Bitcoin,  Cryptocurrencies,  Ethereum,  Litecoin,  Regulation,  United States

    Crypto exchange sued by IRS unveils crypto tax calculator

    Keep calm, trade, and don’t forget to play nice with the government

    We already know that cryptocurrency exchange Coinbase really wants its users to pay taxes on their holdings. Now it’s unveiled a new tool to more easily calculate how much money you owe Uncle Sam for all those profitable bitcoin trades. The government is profoundly hip to cryptocurrency, taking steps to implement and regulate its use for formal purposes like paying tax. It’s also paying deadly attention to people who might be hiding their wealth in crypto assets, which is why the IRS ordered Coinbase to hand over information on nearly 15,000 users it identified as moving more than $20,000 through crypto; it ended up going to court late last year.…

  • Arizona
    Bitcoin,  United States

    Arizona law letting residents pay taxes with crypto now one step closer to a vote

    A legislative “vote of confidence” for tackling tax season with bitcoin.

    Arizona just might be the most cryptocurrency-friendly state in the nation. Important legislation has successfully made its way through the Ways and Means Committee of the Arizona House of Representatives this week and seems on track to be formally passed into law. Formally designated as SB1091, this new set of rules would make it legal for Arizonans to pay their income tax with bitcoin. The bill now needs to pass the state legislature. Coindesk called this week’s development “a big vote of confidence.” With strong Republican support, political and crypto pundits alike seem sure this bill will become formal law. The motivation for this bill isn’t an overwhelming demand to…