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BORDERLESS: Crypto Taxes Are Coming So What Is Next?

BORDERLESS: Crypto Taxes Are Coming So What Is Next?

FromCoinDesk Reports


BORDERLESS: Crypto Taxes Are Coming So What Is Next?

FromCoinDesk Reports

ratings:
Length:
27 minutes
Released:
Feb 22, 2021
Format:
Podcast episode

Description

In this episode, Anna Baydakova and Danny Nelson discuss the coming crypto taxation in Russia and India, North Korean hackers indicted by the U.S. Department of Justice and the GameStop story rolling into the U.S. Congress.Russia is on its way to taxing cryptocurrency transactions. A draft bill on crypto taxation is now in Russia’s parliament, the State Duma, and it has just passed its first round of hearings last week. The bill says Russian taxpayers must declare crypto they receive to their wallets if its overall value reaches 600,000 rubles, or a bit more than US$8,000. India is also moving towards crypto taxation. According to a new draft bill, the government is likely to impose a personal income tax on crypto traders and a goods and services tax on trading platforms. So crypto exchanges will have to pay 18 % from the trading fees they earn. Around the world, it’s becoming our new reality: you deal with crypto, you tell your government about it. Danny shares personal experiences while Anna shares some fears about the future.This week, the U.S. Department of Justice went after three North Korean hackers for allegedly stealing over $100 million in cryptocurrency from exchanges, including a handful in the U.S. Prosecutors said North Koreans have become the “world’s leading bank robbers,” using keyboards as weapons instead of guns. As longtime listeners of the pod know, they’re using that crypto to build more sinister weapons: nukes! They even used an initial coin offering to raise money! (Not financial advice.)GameStop goes to Congress: the U.S. lawmakers questioned Reddit and Robinhood CEOs, as well as the redditor Roaring Kitty. Hearings like this might become hits on their own, just as the Facebook hearings did a couple years ago. But should we expect any material changes afterwards? One thing is for sure: Traditional capital markets are aping right into the crypto world insanity.Did you enjoy the show? We would love to hear what you think. Leave us a review on Apple Podcasts or your preferred service and talk to us directly via email at borderless@coindesk.com.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Released:
Feb 22, 2021
Format:
Podcast episode

Titles in the series (100)

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