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 Goodbye Anonymity? DAC8 Rules Take Effect in the EU: What It Means for Users 🇪🇺 As of January 1, 2026, the crypto landscape in Europe has officially shifted. The enforcement of the DAC8 directive has sparked heated debates online, with crypto commentators, including the prominent Blockchainchick, calling it the "end of the privacy era." What’s actually happening? Under the new regulations, all Crypto-Asset Service Providers (CASPs) operating in the EU are now required to collect detailed tax data on their users. 2026 will be the year of intensive data collection, with the first comprehensive reports due to be submitted to regulators by 2027. Key Changes: 🔹 Transaction Transparency: Tax authorities across EU member states will now automatically exchange information regarding citizens' crypto holdings. 🔹 The End of Anonymity: The rules aim to make crypto transfers as transparent to tax authorities as traditional bank transactions. 🔹 Combating Tax Evasion: The primary goal of DAC8 is to close loopholes used for hiding income via digital assets. Why the outcry? Viral posts on X (Twitter) claim that the EU has "killed crypto privacy." For many, the core ideology of cryptocurrency is inseparable from privacy. However, regulators argue that mass adoption requires strict oversight and accountability. What should users do? If you use platforms operating within EU jurisdiction, be prepared for requests to update your information. It is highly recommended to ensure your tax affairs are in order, as the "gray zone" is shrinking rapidly. 🛡️ Privacy vs. Regulation — where do you stand? Will DAC8 become a global standard, or is it excessive control? Share your thoughts in the comments below! 👇 #DAC8 #CryptoRegulation #EU #Privacy #Taxation {spot}(BTCUSDT) {spot}(ETHUSDT) {spot}(XRPUSDT)
 Goodbye Anonymity? DAC8 Rules Take Effect in the EU: What It Means for Users 🇪🇺
As of January 1, 2026, the crypto landscape in Europe has officially shifted. The enforcement of the DAC8 directive has sparked heated debates online, with crypto commentators, including the prominent Blockchainchick, calling it the "end of the privacy era."
What’s actually happening?
Under the new regulations, all Crypto-Asset Service Providers (CASPs) operating in the EU are now required to collect detailed tax data on their users. 2026 will be the year of intensive data collection, with the first comprehensive reports due to be submitted to regulators by 2027.
Key Changes:
🔹 Transaction Transparency: Tax authorities across EU member states will now automatically exchange information regarding citizens' crypto holdings.
🔹 The End of Anonymity: The rules aim to make crypto transfers as transparent to tax authorities as traditional bank transactions.
🔹 Combating Tax Evasion: The primary goal of DAC8 is to close loopholes used for hiding income via digital assets.
Why the outcry?
Viral posts on X (Twitter) claim that the EU has "killed crypto privacy." For many, the core ideology of cryptocurrency is inseparable from privacy. However, regulators argue that mass adoption requires strict oversight and accountability.
What should users do?
If you use platforms operating within EU jurisdiction, be prepared for requests to update your information. It is highly recommended to ensure your tax affairs are in order, as the "gray zone" is shrinking rapidly.
🛡️ Privacy vs. Regulation — where do you stand? Will DAC8 become a global standard, or is it excessive control? Share your thoughts in the comments below! 👇
#DAC8 #CryptoRegulation #EU #Privacy #Taxation

INDIA CRACKS DOWN HARD ON CRYPTO! Authorities just doubled down. They're claiming offshore exchanges, private wallets, and DeFi make tracing income "almost impossible." This means tax enforcement nightmare incoming. India's existing 30% tax plus 1% TDS is already brutal. Despite allowing trading and Coinbase's return, their stance is pure caution. Get ready for major headaches. Disclaimer: Not financial advice. $BTC $ETH #IndiaCrypto #Taxation #CryptoNews 🚨 {future}(BTCUSDT) {future}(ETHUSDT)
INDIA CRACKS DOWN HARD ON CRYPTO!

Authorities just doubled down. They're claiming offshore exchanges, private wallets, and DeFi make tracing income "almost impossible." This means tax enforcement nightmare incoming. India's existing 30% tax plus 1% TDS is already brutal. Despite allowing trading and Coinbase's return, their stance is pure caution. Get ready for major headaches.

Disclaimer: Not financial advice.

$BTC $ETH #IndiaCrypto #Taxation #CryptoNews 🚨
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66 crypto companies urge Trump to immediately introduce clear taxation.The U.S. crypto industry takes a decisive step: a coalition of 66 leading companies, including representatives from Ethereum, Solana, and ZCash, has sent an open letter to President Donald Trump demanding the urgent implementation of transparent tax rules for digital assets. The leader of the initiative is the Solana Policy Institute. This occurred on November 20, 2025, when the industry, which has already contributed billions to the economy, warns against regulatory chaos.

66 crypto companies urge Trump to immediately introduce clear taxation.

The U.S. crypto industry takes a decisive step: a coalition of 66 leading companies, including representatives from Ethereum, Solana, and ZCash, has sent an open letter to President Donald Trump demanding the urgent implementation of transparent tax rules for digital assets. The leader of the initiative is the Solana Policy Institute. This occurred on November 20, 2025, when the industry, which has already contributed billions to the economy, warns against regulatory chaos.
TAX BOMBSHELL DROPPED! 🤯 Entry: 65000 🟩 Target 1: 70000 🎯 Target 2: 75000 🎯 Stop Loss: 63000 🛑 Your profits are now the government's target. New tax laws just passed. Income over 100M/month hit with a 35% tax. This is insane. They're slashing income tax brackets too. Prepare for massive shifts. Capital is about to flee. This changes everything for $BTC. Act now before it's too late. Disclaimer: Not financial advice. #CryptoNews #Taxation #FOMO #Bitcoin 🚀 {future}(BTCUSDT)
TAX BOMBSHELL DROPPED! 🤯

Entry: 65000 🟩
Target 1: 70000 🎯
Target 2: 75000 🎯
Stop Loss: 63000 🛑

Your profits are now the government's target. New tax laws just passed. Income over 100M/month hit with a 35% tax. This is insane. They're slashing income tax brackets too. Prepare for massive shifts. Capital is about to flee. This changes everything for $BTC. Act now before it's too late.

Disclaimer: Not financial advice.

#CryptoNews #Taxation #FOMO #Bitcoin 🚀
EU CRACKS DOWN! MAJOR TAX REGULATION GOES LIVE JAN 1, 2026. DAC8 IS HERE. EU crypto exchanges and brokers MUST report ALL user data. Tax evasion means frozen or confiscated assets. Cross-border cooperation ensures no escape. This changes EVERYTHING for EU crypto. Act now. Disclaimer: Not financial advice. #CryptoRegulation #DAC8 #EUcrypto #Taxation 🚨
EU CRACKS DOWN! MAJOR TAX REGULATION GOES LIVE JAN 1, 2026.

DAC8 IS HERE. EU crypto exchanges and brokers MUST report ALL user data. Tax evasion means frozen or confiscated assets. Cross-border cooperation ensures no escape. This changes EVERYTHING for EU crypto. Act now.

Disclaimer: Not financial advice.

#CryptoRegulation #DAC8 #EUcrypto #Taxation 🚨
California's proposed 5% wealth tax on *unrealized* gains, including unsold crypto, is a policy nightmare waiting to happen. It directly targets the illiquid paper wealth of builders and long-term holders. My critical take: This isn't just about "pushing innovation outside the US." It's about creating a perverse incentive to *never* build or hold major assets in California. For crypto, with its wild volatility, being taxed on paper gains during a bull run could force catastrophic, liquidity-crushing sales in a bear market. It misunderstands the very nature of asset liquidity. Some firms may still expand here, but the smart capital is infinitely mobile. This policy risks making the US a museum of crypto, not a hub. Would you move your holdings or operations over this? Debate below. #CryptoPolicy #Bitcoin #Taxation
California's proposed 5% wealth tax on *unrealized* gains, including unsold crypto, is a policy nightmare waiting to happen. It directly targets the illiquid paper wealth of builders and long-term holders.
My critical take: This isn't just about "pushing innovation outside the US." It's about creating a perverse incentive to *never* build or hold major assets in California. For crypto, with its wild volatility, being taxed on paper gains during a bull run could force catastrophic, liquidity-crushing sales in a bear market. It misunderstands the very nature of asset liquidity.
Some firms may still expand here, but the smart capital is infinitely mobile. This policy risks making the US a museum of crypto, not a hub.
Would you move your holdings or operations over this? Debate below.
#CryptoPolicy #Bitcoin #Taxation
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🇪🇺 The end of crypto-anonymity in the EU: What is important to know about the DAC8 directive? The European Union officially transitions to a new stage of regulating digital assets. While cryptocurrencies were previously considered a 'gray area', transparency is now becoming a mandatory requirement. Tax authorities in EU countries are launching a mechanism for the automatic exchange of data on the crypto-assets of their residents. This means that information about your transactions, balances, and incomes on exchanges will become available to tax authorities in real-time.

🇪🇺 The end of crypto-anonymity in the EU: What is important to know about the DAC8 directive?

The European Union officially transitions to a new stage of regulating digital assets. While cryptocurrencies were previously considered a 'gray area', transparency is now becoming a mandatory requirement.
Tax authorities in EU countries are launching a mechanism for the automatic exchange of data on the crypto-assets of their residents. This means that information about your transactions, balances, and incomes on exchanges will become available to tax authorities in real-time.
📢 GST Rate Cuts Announced The government has rolled out fresh GST rate cuts across multiple sectors, aiming to boost consumption and ease the burden on businesses. This move is seen as a positive step for the economy—more disposable income often means higher retail participation in different markets. But as crypto traders, the bigger question remains 👇 💭 When will we hear real updates on crypto regulations? Will the flat 30% tax on crypto gains finally be reconsidered? Will loss set-off ever be allowed like in equities? Will platforms get clear directives from the tax department on how crypto should be treated? It’s good to hear about GST reliefs, but what the community really waits for is clarity on crypto taxation & regulation. Until then, we’re left with curiosity… and a lot of hope. #Crypto #India #GST #Taxation #Regulation $XRP $SUI $SPK
📢 GST Rate Cuts Announced

The government has rolled out fresh GST rate cuts across multiple sectors, aiming to boost consumption and ease the burden on businesses. This move is seen as a positive step for the economy—more disposable income often means higher retail participation in different markets.

But as crypto traders, the bigger question remains 👇

💭 When will we hear real updates on crypto regulations?

Will the flat 30% tax on crypto gains finally be reconsidered?

Will loss set-off ever be allowed like in equities?

Will platforms get clear directives from the tax department on how crypto should be treated?

It’s good to hear about GST reliefs, but what the community really waits for is clarity on crypto taxation & regulation. Until then, we’re left with curiosity… and a lot of hope.

#Crypto #India #GST #Taxation #Regulation
$XRP $SUI $SPK
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Bullish
🇯🇵 Japan Waves Goodbye to Tax on Unrealized Crypto Profits! 🚀💰 💸 Let's dive into what this means for the crypto community in a nutshell. 🧵👇 🎉 The Big Move: Japan made a bold move by ditching taxes on unrealized gains from cryptocurrencies. 🚀 This means if the value of your crypto holdings goes up, you won't be taxed until you cash out those gains. 💰🙌 📈 Unrealized Gains Unleashed: So, what exactly are unrealized gains? It's the profit you've made on your crypto investments that you haven't sold yet. Now, you won't have to worry about paying taxes on those gains until you decide to cash in. 🔄💹 #NOTA #Japan #taxation
🇯🇵 Japan Waves Goodbye to Tax on Unrealized Crypto Profits! 🚀💰

💸 Let's dive into what this means for the crypto community in a nutshell. 🧵👇

🎉 The Big Move: Japan made a bold move by ditching taxes on unrealized gains from cryptocurrencies. 🚀 This means if the value of your crypto holdings goes up, you won't be taxed until you cash out those gains. 💰🙌

📈 Unrealized Gains Unleashed: So, what exactly are unrealized gains? It's the profit you've made on your crypto investments that you haven't sold yet. Now, you won't have to worry about paying taxes on those gains until you decide to cash in. 🔄💹

#NOTA #Japan #taxation
💸🌍 Crypto Under Fire: Governments Turn to Digital Assets for Tax Revenue 🔥 The tax net is tightening on crypto worldwide. What used to be a “tax-free playground” is now turning into a prime target for governments hungry for revenue. 🇧🇷 Brazil leads the charge: Scrapped exemptions for small gains ❌ Introduced a 17.5% flat tax on all digital asset profits. 🌐 And it’s not just Brazil… 🇵🇹 Portugal: From paradise to penalty – now 28% tax on gains under 1 year. 🇩🇪 Germany: Still friendly – crypto held over 12 months stays tax-free (up to €600 for shorter plays). 🇬🇧 UK: Shrinking allowances – capital gains tax-free band slashed from £6,000 ➝ £3,000. ⚡ The global trend: Governments are realizing crypto is a goldmine for taxation, especially as Bitcoin has averaged a 61.2% yearly return over the last 5 years 🚀. 👉 Who pays the price? Small investors 🧑‍💻💸 Retail traders in inflation-hit economies 🌍 Startups trying to grow in stricter markets 🏗 Institutions? They’ll likely adjust, relocate, or absorb costs. 📢 The reality: The age of low-tax or no-tax crypto investing is ending. The only questions now: How soon will other “friendly” nations follow, and how tough will the rules get? #CryptoUpdate #Bitcoin #Taxation #GlobalMarkets
💸🌍 Crypto Under Fire: Governments Turn to Digital Assets for Tax Revenue

🔥 The tax net is tightening on crypto worldwide. What used to be a “tax-free playground” is now turning into a prime target for governments hungry for revenue.

🇧🇷 Brazil leads the charge:

Scrapped exemptions for small gains ❌

Introduced a 17.5% flat tax on all digital asset profits.

🌐 And it’s not just Brazil…

🇵🇹 Portugal: From paradise to penalty – now 28% tax on gains under 1 year.

🇩🇪 Germany: Still friendly – crypto held over 12 months stays tax-free (up to €600 for shorter plays).

🇬🇧 UK: Shrinking allowances – capital gains tax-free band slashed from £6,000 ➝ £3,000.

⚡ The global trend:
Governments are realizing crypto is a goldmine for taxation, especially as Bitcoin has averaged a 61.2% yearly return over the last 5 years 🚀.

👉 Who pays the price?

Small investors 🧑‍💻💸

Retail traders in inflation-hit economies 🌍

Startups trying to grow in stricter markets 🏗

Institutions? They’ll likely adjust, relocate, or absorb costs.

📢 The reality:
The age of low-tax or no-tax crypto investing is ending. The only questions now: How soon will other “friendly” nations follow, and how tough will the rules get?

#CryptoUpdate #Bitcoin #Taxation #GlobalMarkets
🚨 JUST IN: 🇺🇸 US Senate Finance Committee schedules a hearing on crypto taxation 📅 Oct 1, 10:00 AM ET (7:30 PM IST) #Crypto #Taxation #Blockchain
🚨 JUST IN: 🇺🇸 US Senate Finance Committee schedules a hearing on crypto taxation 📅 Oct 1, 10:00 AM ET (7:30 PM IST) #Crypto #Taxation #Blockchain
🚨 Breaking: Major Crypto Tax Update from India! 🇮🇳 Union Minister Piyush Goyal has confirmed that India will not ban cryptocurrencies, but non-backed crypto assets will face heavy taxation. 💡 This signals a clear shift — the government wants to discourage speculative meme coins while promoting regulated, safer digital assets like CBDCs. 📊 Currently, crypto profits are taxed at 30%, plus 1% TDS per transaction. The new move hints at stricter taxes for high-risk coins in 2025. 🔁 Expect traders to pivot toward stablecoins and government-backed digital currencies for compliance and safety. 📢 Stay ahead of every major crypto policy update in India — follow TradingCopter for real-time insights. 🚀 #CryptoNews #India #Taxation #Bitcoin #Altcoins #CBDC #TradingCopter
🚨 Breaking: Major Crypto Tax Update from India! 🇮🇳

Union Minister Piyush Goyal has confirmed that India will not ban cryptocurrencies, but non-backed crypto assets will face heavy taxation.

💡 This signals a clear shift — the government wants to discourage speculative meme coins while promoting regulated, safer digital assets like CBDCs.

📊 Currently, crypto profits are taxed at 30%, plus 1% TDS per transaction.
The new move hints at stricter taxes for high-risk coins in 2025.

🔁 Expect traders to pivot toward stablecoins and government-backed digital currencies for compliance and safety.

📢 Stay ahead of every major crypto policy update in India — follow TradingCopter for real-time insights. 🚀

#CryptoNews #India #Taxation #Bitcoin #Altcoins #CBDC #TradingCopter
🤯 EU's Tech Tax Nightmare Unveiled! The EU is bleeding revenue and relying on punishing US tech giants to stay afloat. Public European tech firms coughed up a measly €3.2B in income tax in 2024. Meanwhile, fines slapped on American companies totaled a shocking €3.8B – more than the entire tax contribution from all of Europe’s public tech sector combined! Imagine if SAP decided to relocate to the US… the EU would lose roughly 50% of its current tech tax income. 😱 They’re essentially funding themselves with penalties! This isn’t sustainable. $DCR $AT is watching closely as this unfolds. The implications for $ETH and the broader crypto landscape are huge – regulatory pressure will only intensify. Don't get caught sleeping on this. #EUTax #TechNews #CryptoRegulation #Taxation 🚀 {spot}(DCRUSDT) {future}(ATUSDT) {future}(ETHUSDT)
🤯 EU's Tech Tax Nightmare Unveiled!

The EU is bleeding revenue and relying on punishing US tech giants to stay afloat. Public European tech firms coughed up a measly €3.2B in income tax in 2024. Meanwhile, fines slapped on American companies totaled a shocking €3.8B – more than the entire tax contribution from all of Europe’s public tech sector combined!

Imagine if SAP decided to relocate to the US… the EU would lose roughly 50% of its current tech tax income. 😱 They’re essentially funding themselves with penalties! This isn’t sustainable. $DCR $AT is watching closely as this unfolds. The implications for $ETH and the broader crypto landscape are huge – regulatory pressure will only intensify. Don't get caught sleeping on this.

#EUTax #TechNews #CryptoRegulation #Taxation 🚀

Don't get caught in the crypto tax misinformation trap! In India, the 18% GST is on trading fees, NOT on your entire trade value. On top of that, you'll pay 30% tax on profits and 1% TDS. Let's break it down: - *Trading Fees*: 18% GST on fees charged by exchanges like Bybit - *Profit Tax*: 30% tax on profits from crypto trading - *TDS*: 1% tax deducted at source on each transaction Stay informed, trade smart! #CryptoTax #India #GST #TradingFees #Taxation                  🙌                🌙✨ 👉 Follow Like  Share 💥You’ve been such a valuable member of our BINANCE TEAM! 🚨   This isn't the end; it's just a new beginning. NO MATTER WHAT !  AVOID LEVERAGE TRADING !!!  GROW SLOW AND STEADY. KEEP FORWARD ... Don't forget to  Follow Like Share & Comment  "*I wish you all the best because you deserve nothing less*" "*I   also   pray  for   your  future  endeavors.*" Enjoy your well-earned . You deserve it! *This is not investment advice.* 🔸Follow   📣 share  Like & comment  🔔  👇🏻 I hope you will do. We’re never late ✌️ Immediately analyze and receive on-Chain data from top-level news and for interesting , latest news and updates about Crypto Currencies around the 🌍 globe 🌎 👇🏻. 🌐                             ⚔️                            🙌
Don't get caught in the crypto tax misinformation trap! In India, the 18% GST is on trading fees, NOT on your entire trade value. On top of that, you'll pay 30% tax on profits and 1% TDS. Let's break it down:
- *Trading Fees*: 18% GST on fees charged by exchanges like Bybit
- *Profit Tax*: 30% tax on profits from crypto trading
- *TDS*: 1% tax deducted at source on each transaction

Stay informed, trade smart! #CryptoTax #India #GST #TradingFees #Taxation

                 🙌

               🌙✨

👉 Follow Like  Share

💥You’ve been such a valuable member of our BINANCE TEAM! 🚨

 

This isn't the end; it's just a new beginning.

NO MATTER WHAT ! 

AVOID LEVERAGE TRADING !!! 

GROW SLOW AND STEADY.

KEEP FORWARD ...

Don't forget to 

Follow Like Share & Comment 

"*I wish you all the best because you deserve nothing less*"

"*I   also   pray  for   your  future  endeavors.*"

Enjoy your well-earned . You deserve it!

*This is not investment advice.*

🔸Follow   📣 share  Like & comment  🔔

 👇🏻

I hope you will do.

We’re never late ✌️

Immediately analyze and receive on-Chain data from top-level news and

for interesting , latest news and updates about Crypto Currencies around the 🌍 globe 🌎 👇🏻. 🌐 

                           ⚔️

                           🙌
Trump Mulls Tax-Free Gambling Winnings - A Game Changer for Crypto? 🤯 This is massive. President Trump is reportedly considering a move that could shake up financial markets: removing taxes on gambling winnings. Imagine the implications for decentralized betting platforms and the broader crypto ecosystem. This could be a huge catalyst, driving adoption and innovation like never before. Keep a close eye on this development. Disclaimer: Not financial advice. #Crypto #Taxation #Gambling #DeFi #Trump 🚀
Trump Mulls Tax-Free Gambling Winnings - A Game Changer for Crypto? 🤯

This is massive. President Trump is reportedly considering a move that could shake up financial markets: removing taxes on gambling winnings. Imagine the implications for decentralized betting platforms and the broader crypto ecosystem. This could be a huge catalyst, driving adoption and innovation like never before. Keep a close eye on this development.

Disclaimer: Not financial advice.
#Crypto #Taxation #Gambling #DeFi #Trump 🚀
The Finance Minister of India has declared that there will be no adjustments made to either direct or indirect taxes. Additionally, the following points were also emphasized: 1. A uniform tax rate of 30%. 2. Implementation of a 1% TDS (Tax Deducted at Source). 3. Elimination of the provision for offsetting losses.#crypto #indiantax #taxation #tax #BTC How many people want to file a petition against crypto tax in India. $BTC $SOL $ETH
The Finance Minister of India has declared that there will be no adjustments made to either direct or indirect taxes. Additionally, the following points were also emphasized:

1. A uniform tax rate of 30%.
2. Implementation of a 1% TDS (Tax Deducted at Source).
3. Elimination of the provision for offsetting losses.#crypto #indiantax #taxation #tax #BTC

How many people want to file a petition against crypto tax in India.

$BTC $SOL $ETH
🤯 Elon’s Taxes > Somalia’s GDP?! 🚀 Elon Musk is sending shockwaves through the financial world… again. Reports claim his tax payments have surpassed Somalia’s entire annual GDP. While not a perfect comparison, it spotlights the unbelievable scale of his wealth and tax burden during peak Tesla gains. 📈 This isn’t just about numbers; it’s about the widening gap between the ultra-rich and entire nations. Musk previously revealed “the largest tax bill in history,” sparking a global debate on wealth, taxation, and inequality. 🌍 It begs the question: how do individual fortunes now compare to national economies? $LINK $NEAR #ElonMusk #WealthInequality #Taxation 💰 {future}(LINKUSDT) {future}(NEARUSDT)
🤯 Elon’s Taxes > Somalia’s GDP?! 🚀

Elon Musk is sending shockwaves through the financial world… again. Reports claim his tax payments have surpassed Somalia’s entire annual GDP. While not a perfect comparison, it spotlights the unbelievable scale of his wealth and tax burden during peak Tesla gains. 📈

This isn’t just about numbers; it’s about the widening gap between the ultra-rich and entire nations. Musk previously revealed “the largest tax bill in history,” sparking a global debate on wealth, taxation, and inequality. 🌍 It begs the question: how do individual fortunes now compare to national economies? $LINK $NEAR

#ElonMusk #WealthInequality #Taxation 💰
See original
Brazil considers tax on cryptocurrency cross-border payments: impact on the market.The authorities of Brazil are actively discussing the possibility of introducing a tax on cross-border payments made using cryptocurrencies. This potentially significant change could substantially affect the local digital asset market and its interaction with international platforms. The proposed measure aims to regulate the growing cryptocurrency sector and ensure tax revenues for the country's budget.

Brazil considers tax on cryptocurrency cross-border payments: impact on the market.

The authorities of Brazil are actively discussing the possibility of introducing a tax on cross-border payments made using cryptocurrencies. This potentially significant change could substantially affect the local digital asset market and its interaction with international platforms. The proposed measure aims to regulate the growing cryptocurrency sector and ensure tax revenues for the country's budget.
🔥🔥🔥 Kyrgyzstan Raises $1m from #CryptoMining Taxes in 2023 🔥🔥🔥 Kyrgyzstan is quietly establishing itself as a notable player in the crypto mining sector, poised to generate over $1 million in government tax revenue this year. According to reports from 24KG, the nation's finance ministry has reported $900,000 in tax revenue from crypto miners in the first 11 months of 2023. Notably, August saw a significant spike, with miners contributing over $132,000 in taxes, indicating a growing trend in crypto mining activity within Kyrgyzstan. Mining-related tax payments notably surged in the second quarter of the year, with February tax payments starting at just under $8,300 and experiencing rapid growth in April. Kyrgyzstan's Energy Minister, Taalaibek Ibraev, mentioned that most crypto mining operations in the country are affiliated with owners of small hydroelectric power stations. While generated electricity is primarily used for domestic needs, many power station owners collaborate with crypto mining firms on a contractual basis. The nation's appeal to crypto miners lies in its power generation from river networks, akin to Costa Rica and Paraguay. Kyrgyzstan's hydropower potential is considerable, with the International Trade Administration noting that up to 142 billion kWh of energy could be produced, of which only 10% has been tapped in installed capacity. The focus on green energy aligns with the growing interest from crypto miners seeking environmentally friendly operations. As crypto mining activity continues to rise in Kyrgyzstan, the nation is positioned as an attractive destination for crypto mining ventures, leveraging its abundant hydropower resources. Source - Tim Alper @tim-alper Website - Cryptonews #CryptoNews🔒📰🚫 #cryptocurrency #BinanceSquareTalks #taxation
🔥🔥🔥 Kyrgyzstan Raises $1m from #CryptoMining Taxes in 2023 🔥🔥🔥

Kyrgyzstan is quietly establishing itself as a notable player in the crypto mining sector, poised to generate over $1 million in government tax revenue this year.

According to reports from 24KG, the nation's finance ministry has reported $900,000 in tax revenue from crypto miners in the first 11 months of 2023. Notably, August saw a significant spike, with miners contributing over $132,000 in taxes, indicating a growing trend in crypto mining activity within Kyrgyzstan.
Mining-related tax payments notably surged in the second quarter of the year, with February tax payments starting at just under $8,300 and experiencing rapid growth in April.

Kyrgyzstan's Energy Minister, Taalaibek Ibraev, mentioned that most crypto mining operations in the country are affiliated with owners of small hydroelectric power stations. While generated electricity is primarily used for domestic needs, many power station owners collaborate with crypto mining firms on a contractual basis.

The nation's appeal to crypto miners lies in its power generation from river networks, akin to Costa Rica and Paraguay. Kyrgyzstan's hydropower potential is considerable, with the International Trade Administration noting that up to 142 billion kWh of energy could be produced, of which only 10% has been tapped in installed capacity.

The focus on green energy aligns with the growing interest from crypto miners seeking environmentally friendly operations. As crypto mining activity continues to rise in Kyrgyzstan, the nation is positioned as an attractive destination for crypto mining ventures, leveraging its abundant hydropower resources.

Source - Tim Alper @tim-alper
Website - Cryptonews

#CryptoNews🔒📰🚫 #cryptocurrency #BinanceSquareTalks
#taxation
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