India’s tax department raises concerns about the enforcement challenges of virtual digital assets, echoing the Reserve Bank of India’s previous warnings. These issues are expected to be addressed in the upcoming Union Budget.
Fireblocks acquires TRES, a crypto accounting and tax compliance platform, for $130 million to enhance its institutional offering and cater to the growing demand for stablecoins.
Russia’s justice ministry proposes new penalties for unregistered crypto miners, including fines and potential prison time, in a bid to regulate the industry and ensure tax compliance.
Canada Revenue Agency collects $72M in crypto taxes but hasn’t pursued criminal charges, highlighting compliance challenges.