Crypto (Tax) Weekly - January 16, 2025 ...stay up to date on crypto (taxation) news
Hello reader,
You are welcome to the first edition of "Crypto (Tax) Weekly" in 2025! In this biweekly series, we update you on all the latest news in the world of crypto (tax), regulations and compliance.?
The most important updates that happened in the past two weeks, delivered right to your mailbox.
TOP NEWS?
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The Parliament approved a government proposal to increase the withholding tax on Bitcoin profits from 26% to 33%. However, in response to mounting pressure from lawmakers and citizens, the government revised its initial plans, opting for a more moderate approach.
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In a first for cryptocurrency regulation, a Texas federal court has ordered Frank Richard Ahlgren III to turn over all crypto wallet private keys, access codes and storage devices.
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IRS grants crypto holders temporary relief in 2025, allowing them to avoid default FIFO accounting for CeFi exchanges.
OTHER NEWS
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A South Korean man accused of being responsible for a cryptocurrency crisis which cost investors $40bn (￡31.8bn) has finally been extradited to the United States.
Do Kwon was the boss of Terraform, which operated two cryptocurrencies - TerraUSD and Luna - both of which collapsed in 2022, sparking a wider sell-off in the crypto market.
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Thailand’s former prime minister has urged cryptocurrency-friendly policies and a 20% tax on online gambling, projecting billions in revenue to spur economic modernization.
CRYPTO TAX FORUM MEMBER HIGHLIGHT!
Diana Mile is an attorney and the founder of Mile & Partners Law Office, a specialized law firm in technology and innovation. She is in the Corporate Lawyer category, representing Hungary. Her main focus is on Business Law, Blockchain, and FinTech. She is vastly experienced in global crypto regulation matters and occasionally speaks at blockchain and crypto-related conferences. She has more than 15 years of experience in Business Law and Contract Law, and besides FinTech, her strengths are in IT-IP Law and Data Protection Law. Diana has co-founded a legal AI project and a crypto-taxation and consulting project in the past. She is amongst the first blockchain and crypto-currency lawyers in Hungary, and a highly involved member of the Blockchain Hungary Association. She is the leader of the governmental Blockchain Coalition’s Legal Working Group, and a contributing party and co-editor of the ’Blockchain Regulatory Concept for Hungary’ document. Mile & Partners has helped launch several start-ups, and Diana supported numerous projects of Legal Token Design. She also has an MA degree in cultural anthropology where her chosen field is the metaverse and the digital world.
YOU CAN ALSO BECOME A CRYPTO TAX FORUM MEMBER!
We are currently open to taking new members for the Crypto Tax Forum. Crypto Tax Forum is building a community of tax, legal, compliance, governmental, Web3 and finance professionals who deal with crypto assets.
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By being a member of the Crypto Tax Forum, you will be presenting yourself (or your company or brand) to vital professional stakeholders in the Web3 field. You will also be visible to anyone searching for professionals from your country/continent, with your photo, name, and LinkedIn profile on the CTF?website.?
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Another perk is the opportunity to publish a blog, which we will help edit and then promote to all 6,000 of our followers across social media, 12,000+ newsletter subscribers, and 9.3 million professionals on LinkedIn. We will do the same for the Webinar and/ or physical event that we will organize for you specifically.?
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*Please note that we accept only 1 Crypto Tax Forum member per country and category (e.g. only one crypto tax lawyer in Bulgaria).
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Sincerely,