税收政策

🎉U.S. Senate Votes to Cancel IRS Reporting Rules for DeFi Platforms, Crypto Market Slightly Recovers

The U.S. Senate recently overturned a tax regulation from the IRS during the Biden administration with a vote of 70 to 27. This means that decentralized finance (DeFi) platforms no longer have to report users' transaction information to the IRS.

This regulation initially required DeFi platforms to report user transaction data in detail, starting in 2027, similar to centralized exchanges (CeFi), to improve tax compliance.

The vote was led by Senator Ted Cruz, who argued that DeFi platforms are not traditional brokers, and mandatory reporting would lead to high compliance costs, potentially stifling innovation.

The outcome of this vote is a rare case of bipartisan cooperation, with even Coinbase's Chief Legal Officer Paul Grewal praising it, saying, "As long as we work hard, Democrats and Republicans can still get things done together!"

However, some are concerned that abolishing this regulation may push more digital asset trading underground, making it more difficult to combat tax evasion, terrorism financing, and other crimes.

Mike Kaercher, Deputy Director of the NYU Tax Law Center, stated that this will encourage more digital asset activities to go underground, making it harder to track crimes such as tax evasion, drug trafficking, and terrorism financing.

The market reacted positively to this news, with Bitcoin briefly exceeding $88,000 yesterday, and the current price around $90,000. Ethereum increased nearly 5%, but remains at a low point not seen in over a year, currently priced around $2,250. Other altcoins also saw increased volatility.

This vote is not only a victory for DeFi but also reflects the influence of cryptocurrency in the political arena. Moving forward, finding a balance between regulation and innovation remains a core challenge for the industry.

🗣️Conclusion:

The U.S. Senate's repeal of the IRS reporting rules for DeFi platforms is not only a significant victory for the crypto industry but also reflects policymakers' recognition of the uniqueness of DeFi, further highlighting the influence of cryptocurrency on the political stage.

However, behind the easing of regulations lies the risk of facilitating tax evasion, money laundering, and other criminal activities. Therefore, while the policy loosening may provide short-term benefits to the market, long-term attention must be paid to regulatory dynamics and the industry's compliance process.

#DeFi #IRS #加密货币监管 #税收政策

🌐 India's cryptocurrency regulation is in doubt: buying and selling are not prohibited, but heavy taxes are imposed

🤷‍♂️The Indian government has taken an increasingly strict regulatory attitude towards cryptocurrencies in recent years, but interestingly, they have not deprived citizens of their freedom to buy and sell cryptocurrencies.

Although new tax measures were implemented on April 1, 2022, imposing taxes of up to 30% on cryptocurrency gains, nominally to strengthen the fight against money laundering and terrorist financing, the Indian government has not formulated a specific regulatory plan for cryptocurrency transactions.

🤔 Here comes a contradiction: if it is to combat money laundering and terrorist financing, why not take more direct regulatory measures, such as directly banning cryptocurrency transactions?

🧐 However, the Indian government chose another way. Not only did it not prohibit citizens from trading freely, but it also imposed heavy taxes on cryptocurrency profits, including a 30% profit tax and a 1% source deduction tax (TDS).

💡 This practice has sparked widespread speculation from the outside world, and people can't help but ask, what is the real intention of the Indian government? Are they regulating the market through taxation, or are they really leaving room for cryptocurrency money laundering and terrorist financing?

💬 Join the discussion and share your views:

- What do you think of the Indian government's regulatory strategy on cryptocurrencies?

- Is it good for India's cryptocurrency market to not prohibit free trading but charge high profit taxes?

- Will high tax policies really affect and combat money laundering and terrorist financing?

👇 Share your thoughts in the comments section and discuss the future and direction of the Indian cryptocurrency market with us!

#印度加密货币 #监管策略 #税收政策