What rules have governments made or planned for buying, holding, and taxing bitcoin?

"the first approach is based on the recognition of cryptocurrencies as a type of convertible virtual currency that can be used as a means of payment. At the same time, in this approach, for tax purposes, cryptocurrencies are considered as property"

"On August 29, 2023, the Treasury Department and the IRS published in the Federal Register (88 FR 59576) proposed regulations (REG-122793-19) (proposed regulations) relating to information reporting under section 6045 by brokers."

"under the second approach, cryptocurrencies are not recognized as legal tender. In the second approach, cryptocurrencies are treated as property for tax purposes"

"final Sec. 1.6045-1(c)(3)(i)(B)(12) adds digital asset brokers to the list of exempt recipients for sales of digital assets, but limits such application to only U.S. digital asset brokers"

"The rules proposed in these proposed regulations would not require the broker to furnish paper payee statements if the customer does not consent but, instead, would specifically permit brokers to terminate their business relationship with these customers."

"digital assets, which are defined generally as any digital representation of value that is not cash and is recorded on a cryptographically secured distributed ledger"

"the third approach is based on a complete ban on the use of cryptocurrencies in the state, taxation of transactions with cryptocurrencies is not established"

"If a U.S. digital asset broker was not permitted to treat a customer as an exempt foreign person and failed to obtain a valid Form W-9 for the customer when required under Sec. 1.6045-1(c), backup withholding under section 3406 applied to proceeds from digital assets sales made on behalf of the customer."

"Additionally, unlike the existing rules, the rules proposed in these proposed regulations would not require brokers to permit customers to withdraw a previously provided consent."

"On July 9, 2024, the Treasury Department and the IRS published in the Federal Register (89 FR 56480) final regulations (REG-122793-19) (TD 10000) regarding information reporting by certain brokers and the determination of amount realized and basis for certain digital asset sales and exchanges."

"allocating one-half of the total digital asset transaction costs paid by the taxpayer to the acquisition of the received digital assets for purposes of determining the basis of those received digital assets."

"within five business days of the customer's explicit action to provide positive consent"

"Prior to TD 10000, many transactions involving digital assets were outside the scope of information reporting rules. Digital assets are treated as property for Federal income tax purposes."

"the CARF requires reporting of acquisitions and transfers of digital assets, requires all reporting to take place on an aggregate basis, and has different rules for reporting of stablecoins than the final regulations."

"The IRS estimated in its 2019 tax gap analysis that net misreporting as a percent of income for income with little to no third party information reporting is 55 percent."

"CASPs must hold the higher of the Annex IV minimum (€50,000 / €125,000 / €150,000 by service class) or 25 % of the preceding year’s fixed overheads, in qualifying own funds."

"Transfer of Funds Regulation: Regulation (EU) 2023/1113 extends the Travel Rule to crypto-asset transfers. It requires relevant originator and beneficiary information to accompany transfers handled by CASPs."

"On December 30, 2024, MiCA fully came into effect, and the transitional grandfathering period began."

"Depending on the member state, this grandfathering period can last until July 1, 2026, or until a provider is granted or denied authorization, whichever comes first."

"Formally known as Regulation (EU) 2023/1114 , MiCA establishes uniform rules across all EU member states for the issuance, trading, and custody of crypto-assets that were previously governed by fragmented national laws."

"The 2021 notice by ten agencies (PBoC at the front) declared all crypto-related business activities illegal: exchange services, order matching, token issuance, derivatives, and providing such services to mainland residents from offshore."

"Grayscale Bitcoin Mini Trust ETF ("ETH" or the "Fund"), an exchange traded product, is not registered under the Investment Company Act of 1940 (or the ’40 Act) and therefore is not subject to the same regulations and protections as 1940 Act registered ETFs and mutual funds."

"notified that for federal tax purposes, virtual currency is treated as property which is similar to saying that it is treated like a stock and not as a currency that could generate foreign currency gain or loss."

"The Trust is subject to the rules and regulations of the Securities Act of 1933."

"якщо криптовалютою володіли менше ніж рік, застосовується ставка короткострокового капітального податку, яка відповідає ставці звичайного податку на дохід (у межах 37%);"

"The author notices that there is still no unified approach to defining what cryptocurrencies are, and how countries can develop a common policy for taxing them."

"The IRS confirmed that new cryptocurrency received due to a hard fork, a permanent change to the rules of a digital currency's blockchain, is ordinary, taxable income."

"Крім того, криптоентузіасти зобов’язані сплачувати податки на прибуток у разі: отримання криптовалюти як оплати за товари або послуги, отримання криптовалюти за майнінг і стейкінг."

"recognizing Bitcoin as a financial instrument and exempting it from VAT. However, the German Federal Fiscal Court has recently ruled that crypto profits are taxable"

"India imposes a flat income tax rate and a 1% TDS tax on cryptocurrency asset sales."