Sep 30, 2026
Circle's Patrick Hansen condemned Germany's proposed tax reform that would impose a 50% substitute assessment on crypto asset sales when taxpayers cannot provide credible documentation of their original purchase costs. The planned measure would effectively tax 50% of sales proceeds in cases where proof of purchase is unavailable.
Bitcoin mining firm Hive Digital Technologies has escalated its legal battle with Sweden's Tax Agency to the European Commission after the agency reclassified its datacenter services as self-mining and retroactively denied input VAT credits. The dispute could affect how VAT applies to cryptocurrency mining operations across the EU.
Argentina has pledged to implement the OECD's Crypto-Asset Reporting Framework and begin automatic exchange of information on cryptocurrency transactions by September 2029, aligning the country with international standards for crypto tax transparency.
The House Ways and Means Committee voted 38-5 to advance the Digital Asset Tax Certainty Act, which would exempt crypto transactions under $10 from capital gains tax, clarify treatment of stablecoins, mining, staking, and lending, and apply wash sale rules to digital assets. The bill now moves to the full House.
Bulgaria's parliament approved amendments to its Tax and Social Security Procedure Code requiring cryptocurrency service providers to report detailed customer identities, tax residency information, and transaction data to tax officials. The legislation, passed with 149 votes in favor and 10 abstentions, aligns Bulgaria with EU directives aimed at curbing tax evasion and enhancing cross-border tax transparency.
Germany is preparing to eliminate its tax-free treatment for cryptocurrency gains on assets acquired after December 31, 2026, regardless of holding period. Existing holdings purchased before this deadline will retain the current tax treatment under a draft finance law.
Sweden's tax authority, Skatteverket, has ordered six cryptocurrency mining companies operating in Boden to pay approximately 540 million Swedish kronor ($56 million) in additional taxes and penalties after determining the firms improperly used invalid tax breaks.
South Korea's National Tax Service ruled on August 28 that residents must continue reporting cryptocurrency accounts held with bankrupt overseas exchanges under foreign financial account disclosure rules. The ruling clarifies that accounts opened with overseas virtual asset exchanges remain subject to reporting requirements under the Adjustment of International Taxes Act, even when the exchange operator goes bankrupt and trading or withdrawals are suspended.
South Korea's National Tax Service announced it will introduce commercial cryptocurrency tracing software used by domestic and international investigative agencies to prepare for taxing income generated through private crypto transactions starting in 2027.
HM Revenue and Customs sent over 81,000 warning letters, emails, and text messages to cryptocurrency investors suspected of owing unpaid taxes during the 2025/26 financial year, marking a sharp increase in scrutiny of digital asset holdings. The figures were revealed through a freedom of information request.
South Korean authorities have clarified that their planned 22% digital asset tax, set to take effect January 1, 2027, will cover cryptocurrency income from private wallets and overseas exchanges, not just domestic platforms. The expanded tax regime will require enhanced information gathering from international platforms.
Rep. Jung Sung-kook of the People Power Party has submitted a bill to postpone the taxation of virtual asset investment income from January 1, 2027 to January 1, 2030, citing insufficient investor protection measures and tax framework preparation with less than five months until the current implementation date.
A bipartisan ethics proposal within the crypto market structure bill being pitched to President Donald Trump could create a significant tax benefit for the president by allowing him to defer taxes on his cryptocurrency holdings rather than requiring immediate divestment.
India's Central Board of Direct Taxes (CBDT) has revised its global tax reporting framework to include crypto-assets, central bank digital currencies (CBDCs), and digital money products, aligning with international Crypto-Asset Reporting Framework (CARF) standards. The new RCASP framework mandates annual reporting of crypto transactions by exchanges and financial institutions.
Nigeria's tax authority has released the country's first comprehensive framework for taxing virtual assets, requiring crypto exchanges to verify customers with Tax Identification Numbers and imposing penalties up to ₦10 million ($7,000) for non-compliance. The guidelines include corporate tax rates, stamp duties, and mandatory registration requirements for crypto businesses.
The IRS Criminal Investigation division issued a warning about fraudsters mailing official-looking letters directing crypto holders to a fake 'Digital Asset Compliance Portal' designed to steal digital assets and personal information.
CME Group CEO Terry Duffy highlighted potential tax implications stemming from an ongoing legal battle over whether perpetual futures contracts should be classified as swaps or futures, a distinction that could affect how the IRS taxes these popular crypto derivatives.
Crypto trade association The Digital Chamber filed a lawsuit on July 21, 2026, seeking to block Illinois' Digital Asset Tax Act, which imposes a 0.2% tax on digital asset transactions. The organization argues the law unconstitutionally discriminates against blockchain-based commerce by taxing transaction value rather than profits or gains.
Japan's National Diet passed FIEA amendments on July 15, 2026, formally reclassifying cryptocurrencies as financial instruments under securities law. A linked tax proposal would cut the maximum gains rate from 55% to a flat 20%, with implementation targeted for January 2028.
The Reserve Bank of India reasserted its call for a cryptocurrency policy 'leaning towards prohibition,' while the country's tax department warned that offshore trading and P2P transactions are difficult to track and enforce, according to internal government documents reviewed by Reuters.
Illinois Governor JB Pritzker signed a $55.9 billion state budget bill that includes a 0.2% 'privilege tax' on crypto transactions involving Illinois residents, drawing condemnation from industry groups as the 'most anti-crypto law in the US.'
Japan's parliament passed legislation bringing cryptocurrencies under the same regulatory framework as stocks, potentially opening a path to exchange-traded funds and lower capital gains taxes. The new rules are expected to come into effect in 2027.
A House committee hearing on six to seven GOP-backed cryptocurrency tax bills revealed sharp divisions between Republicans and Democrats over proposals to exempt staking and mining rewards from taxation and other digital asset tax reforms. Democrats questioned whether the legislation would unfairly favor crypto over traditional investments.
Senator Elizabeth Warren demanded records from the CFTC regarding staff departures and oversight of prediction markets and crypto firms, calling the agency 'steamrolled,' as the House Ways and Means Committee separately weighs multiple crypto tax relief bills including provisions for stablecoins.
House Republicans have released seven discussion drafts proposing sweeping reforms to digital asset taxation in the US, including exemptions for staking rewards and a $10,000 threshold. The bills are set to be discussed at a Tuesday Ways and Means Committee hearing.
Draft legislation circulating among stakeholders would create a de minimis tax exemption for dollar-pegged stablecoin transactions, but explicitly excludes Bitcoin and other cryptocurrencies, drawing criticism from Bitcoin advocates who argue the bill 'picks winners and losers.'