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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.

Crypto

Germany far-right AfD wins 43.8% in Saxony-Anhalt, putting Bitcoin one-year tax exemption in focus

Germany\'s far-right Alternative for Germany (AfD) won a landslide in the Saxony-Anhalt state election, a result that could intensify political debate over Bitcoin\'s one-year holding tax exemption. While the state vote does not directly change federal tax law, the outcome is seen as boosting AfD\'s influence as it has opposed tighter taxation. The government plans to overhaul crypto-asset taxation from 2027 and is considering scrapping the exemption.

Crypto

Digital asset taxation four months away, calls to redesign blanket other-income classification

With digital asset taxation set to begin next year, a proposal has emerged to revise the current system that classifies both transfer and lending income as other income. Speakers at a National Assembly forum said income categories should reflect the economic substance of different transaction types, including trading, mining and staking. They also called for stronger enforcement infrastructure, including linking transaction data across domestic and overseas exchanges and personal wallets.