Tax Legislation

The Bank of Korea told lawmakers it will draft a forex law amendment this year to regulate stablecoins as a means of payment, a plan that points to tighter cross-border controls rather than legal-tender status.

The Blockchain Association asked congressional leaders Thursday to pass bipartisan crypto tax legislation, but with the Clarity Act near dead, the House bill stripped of mining and staking relief, and Congress out until after the midterms, the ask lands with little room to move.

The UK will introduce a "no gain, no loss" tax treatment for qualifying crypto lending and DeFi liquidity pool transactions from April 6, 2027, deferring Capital Gains Tax until users make an economic disposal of their cryptocurrency.

U.S. crypto groups are urging Congress to pass H.R. 9175, which would let miners and stakers defer taxes until assets are sold instead of taxing rewards at receipt.

Illinois became the first U.S. state to impose a transaction-based crypto tax after Gov. JB Pritzker signed SB 3019 into law.

Japan's FSA plans to reclassify 105 cryptocurrencies, including bitcoin, as financial products, imposing securities-like disclosure, reporting, and market oversight requirements on exchanges.

Good news for Bitcoin holders: The U.S. Treasury clarified that unrealized crypto gains won’t be taxed under CAMT, sparing firms from tax liabilities as Congress debates digital asset taxation.

Bitcoin is the only commodity for which miners are taxed by the IRS both when they mine bitcoin and when they sell bitcoin.

The bill proposes a $300 exemption for small Bitcoin and crypto transactions, defers taxes on mining and staking until assets are sold.