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Crypto

Blockchain Association urges U.S. Congress to overhaul crypto tax rules

The Blockchain Association urged U.S. lawmakers to overhaul digital asset tax rules, calling for exemptions for small transactions and for stablecoins to be treated as cash for tax purposes. It also sought taxation of mining and staking rewards when they are sold, and limits on broker reporting duties to intermediaries that custody or control customer assets. The group did not endorse specific legislation and said it would continue discussions as bills move forward.

Crypto

France moves to tax some crypto-to-stablecoin exchanges, weighs 2027 start

France\'s lower house adopted a tax law amendment that would bring some transactions that exchange cryptocurrencies into stablecoins within the tax net. If it becomes law, capital gains could be taxed from 2027 when investors convert bitcoin and other cryptocurrencies into stablecoins even without converting them into fiat currency. Lawmakers also rejected a proposal to allow crypto realised losses to be carried forward for 10 years. Separate provisions remain pending.

Crypto

Ruling party also pushes to delay digital asset income tax, plan for 2029 implementation

South Korea\'s ruling party is moving to delay digital asset income taxation scheduled for January next year to effectively 2029. Democratic Party lawmaker Park Min-kyu plans to propose an amendment to the income tax law tying the start date to two years after the first international exchange of digital asset transaction information under the OECD\'s CARF. The bill cites insufficient data, infrastructure and fairness issues between domestic and overseas exchange users. The government is continuing preparations under current law.