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Search results for Jan. 1

Crypto

Germany considers scrapping 12-month crypto tax exemption rule

The German government is pushing a plan to scrap the current system under which gains from selling cryptocurrencies such as bitcoin are generally tax-free if held for more than 1 year. A draft law from the Federal Ministry of Finance would impose a flat 25 percent tax on gains regardless of holding period, applying to crypto assets acquired after Jan. 1, 2027. Transitional measures would preserve the existing rule for assets acquired by Dec. 31 this year.

Crypto

U.S. crypto industry goes to court to block Illinois 0.2 percent tax on coin trades

U.S. cryptocurrency industry groups have asked a court to urgently halt Illinois\' planned 0.2 percent digital asset tax, due to take effect next year. The Crypto Council for Innovation and the Blockchain Association filed for a preliminary injunction in Sangamon County and have already sued, arguing the law is unconstitutional. Illinois expects about $60 million a year in revenue. The industry says unclear scope would force costly systems and could drive businesses and users elsewhere.

Telecommunications & Media

Korea to merge Kobaco and KCMF after bill clears parliamentary committee

A bill to merge the Korea Broadcast Advertising Corp (Kobaco) and the Korea Communications Media Foundation (KCMF) to create the Korea Broadcasting Media Communications Promotion Institute has passed the National Assembly’s Legislation and Judiciary Committee. The committee approved amendments including a revision to the Framework Act on Broadcasting and Communications Development. Some broadcasting, media and communications projects scattered across related agencies under the Ministry of Science and ICT would be transferred to the new body.