Bitcoin’s self-custody era may be ending as wealthy holders increasingly transfer assets into regulated exchange-traded funds (ETFs) amid tax incentives and improving institutional infrastructure. In a Wednesday post on X, Martin Hiesboeck, head of blockchain and crypto research at crypto financial services platform Uphold, said the movement of large Bitcoin (BTC) wallets into ETFs marks…
US lawmakers debated crypto tax policy at Wednesday’s Senate Committee on Finance hearing, including possible tax exemptions for crypto transactions below a certain threshold and how income from staking services should be classified. Lawrence Zlatkin, the vice president of tax at crypto exchange Coinbase, urged the Senate committee to consider a de minimis tax exemption…
Google has launched a suite of its AI-powered advertising tools in India, which debuted in the U.S. in May, as the repeal of the so-called “Google tax” has made the South Asian market more attractive to global tech firms selling online ads. In March, the Indian government scrapped its 6% levy on digital advertisements, effective…
In February, Nigeria sued Binance for unpaid taxes and introduced new cryptocurrency taxations in an effort to boost its faltering economy, but it may not have the intended effects. As the 53rd largest economy in the world, Nigeria is predicted to enjoy the highest average GDP growth between 2010 and 2050, according to Citigroup. However,…
A Senate committee is investigating whether a prominent cryptocurrency investor violated federal tax law to save hundreds of millions of dollars after he moved to Puerto Rico, a popular offshore tax haven, according to a letter reviewed by The New York Times. Senator Ron Wyden, an Oregon Democrat, sent the letter on Jan. 9 to…
The auto industry is sending an urgent message to President-elect Donald Trump: spare the $7,500 electric vehicle tax credit. In a November 14th letter to Trump and his transition team, the auto industry’s main lobbying group urges the new administration to preserve incentives for EV buyers and manufacturers that were enacted under President Joe Biden,…
Efforts to fight global warming could suffer a setback next year when new rules reduce the number of electric cars that qualify for a federal tax credit. The credits, up to $7,500 a vehicle, have helped make electric cars more affordable, bringing the cost of some models below $30,000. Next year, for the first time,…