Tag: cryptocurrency holdings

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New IRS Crypto Reporting Law: $10,000 Threshold

A new era in cryptocurrency taxation has dawned in the United States. Following the Infrastructure Investment and Jobs Act, signed into law by President Joe Biden in November 2021, the Internal Revenue Service (IRS) has implemented a stringent reporting requirement for crypto transactions. This rule, effective from January 1, 2024, mandates that any receipt of […]
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Forced to Declare Crypto Holdings, 290,000 South Korean Public Sector Employees

Source: promesaartstudio/Adobe Starting in February, approximately 290,000 public sector employees in South Korea will be required to disclose their cryptocurrency holdings. According to Maeil Kyungjae, the Ministry of Personnel Management has announced that the regulation will also be applicable to the spouses and immediate family members of employees. The progression comes after a recent ministry […]
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