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Turkey’s crypto regulator reports 14 companies, including QNB Digital Assets, have filed for liquidation.
Coinbase will end USDC rewards for EEA users starting December 1.
The exchange intends to transfer customer deposits and assets to SBI VC Trade.
The decision follows the exchange’s struggle to recover from a $320 million theft.
The Wall Street BTC miner raised £4.2M through a share placement to fund strategic initiatives and working capital needs.
The company plans to use the proceeds to expand into high-performance computing amid challenging market conditions.
Russian President Vladimir Putin has signed a law regulating the taxation of digital currencies. According to the law, digital currencies are recognized as property. This also applies to currencies used for foreign trade payments within the experimental legal framework (EPR) in the field of digital innovation. Mining and sales of digital currencies are exempt from value-added tax. Operators of mining infrastructure must report to the tax authorities issuing cryptocurrencies for using their services. Failure to submit such information on time may result in a fine of 40,000 rubles. In terms of personal income tax, digital currencies obtained through mining will be classified as physical income (usually used when goods or services are paid for instead of currency). The value of the income currency will be determined based on market quotes. Such income will be subject to progressive taxation, taking into account tax deductions for mining costs. At the same time, the acquisition, sale or other circulation of digital currencies will be subject to two-stage personal income tax rates (13% for income up to 2.4 million rubles, and 15% for income exceeding this amount). They will be included in the same tax base as securities, bank deposits, and other sources of transaction income. As for corporate income tax, digital currency mining will be subject to the standard tax rate (25% from 2025 onwards).
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