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IRS Official Confirms that Pre-2018 Exchanges of One Cryptocurrency for Another May Be Eligible for Like-Kind Exchange, Income Tax Deferral Treatment

Historically, U.S. tax law has allowed a taxpayer to exchange one investment property for another and defer the income tax consequences of that exchange so long as both the relinquished

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Cryptocurrency, IRS, Tax, US

Taxing Cryptocurrencies in the UK: New Guidance

The UK tax authority, HM Revenue & Customs (“HMRC”), published, on November 1, 2019 guidance for companies and businesses on how tax transactions involving cryptoasset exchange tokens (such as Bitcoin)

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Cryptocurrency, Tax, UK

The IRS Issues Income Tax Guidance Dealing with Cryptocurrency Hard Forks and Airdrop

The U.S. Internal Revenue Service (“IRS”) released Revenue Ruling 2019-24 on October 9, 2019 providing guidance on the U.S. income tax treatment of hard forks and airdrops of cryptocurrency.  Revenue

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Airdrop, Hard Fork, IRS, Tax, US

Danish Tax Agency Accesses Crypto Exchange Data to Tax Traders

On Jan. 14, 2019, Danish tax agency Skattestryrelsen received authorization from the nation’s tax council to collect two years of cryptocurrency trading information from three Danish crypto exchanges to ensure

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Bitcoin, Cryptocurrency, Denmark, Tax

HMRC Publishes Guidance on the Taxation of Cryptoassets for Individuals

This week HM Revenue & Customs (“HMRC”), the UK’s tax authority, set out its view on how individuals should be

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Bitcoin, Cryptoassets, Cryptocurrency, Tax, UK

Lithuania Issues ICO guidelines

Lithuania becomes the latest jurisdiction to release guidance in relation to ICOs. On 8 June 2018, the Lithuanian Government released

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AML, Cryptocurrency, ICO, Lithuania, Securities, Tax

Blockchain Legislation in Ukraine

In Ukraine, two draft laws which aim to set out the legal basis for blockchain/cryptocurrency businesses in Ukraine have been proposed.

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Cryptocurrency, Exchanges, Smart Contracts, Tax, Ukraine

The Tax Implications of Cryptocurrencies

Among the many areas of law that will have to continue to evolve around cryptocurrencies is the tax law.  In

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Bitcoin, Cryptocurrency, Tax, US

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