Bitcoin News and Finance: What You Need to Know

The Indonesian government has decided to tax capital gains income from crypto investments at 0.1% starting in May. In addition, value-added tax (VAT) of the same rate will be levied on crypto purchases. Indonesia to Start Taxing Crypto Income at 0.1% The Indonesian Directorate General of Taxes, the Ministry of Finance, has set income tax (PPh) on capital gains from crypto investments and value-added tax (VAT) on crypto purchases at 0.1%. Hestu Yoga Saksama, director of tax regulations for the Ministry of Finance, told CNN Indonesia Friday: That’s right, 0.1% PPh and 0.1% VAT (for crypto), all of which are final. He added that both the income tax and VAT on crypto purchases will be imposed starting May 1. According to the director, the Indonesian government has levied income tax and VAT on crypto purchases because the central bank, Bank Indonesia, and the Ministry of Trade consider crypto a commodity, not a means of payment. He clarified: Crypto assets will be subject to VAT...

PRESS RELEASE. To help traders earn more cryptocurrency, leading crypto derivatives exchange Bexplus has launched a 100% deposit bonus promotion to all traders. If you deposit 1 BTC , 2 BTC will be credited to your account. Every user can get up to 10 BTC for each deposit. Bitcoin’s high volatility has made a comeback and currently presents more opportunities for traders to make profits. Taking advantage of the price swings and leverage offered by brokers, trading can easily generate 100% or even 1,000% ROI. It’s important to point out only traders who know what they are doing can get to these returns consistently.Because leveraged trading is both high-yield and high-risk. How Does Leveraged Trading Work? Assume we use 1 BTC to open a long contract when Bitcoin is trading at $40,000. Please note that with 100x leverage, 1 BTC can open a contract worth 100 BTC . One day later, the price of Bitcoin increase to $45,000.The profit will be ($45,000 – $40,000) * 100 BTC /$45,000...

A lawsuit against Binance accusing the cryptocurrency exchange of selling unregistered crypto securities has been dismissed. The plaintiffs listed nine cryptocurrencies in the lawsuit. Binance’s Lawsuit Dismissed U.S. District Judge Andrew Carter dismissed a lawsuit against cryptocurrency exchange Binance Thursday. The motion to dismiss was filed by Binance and CEO Changpeng Zhao (CZ). The lawsuit (case no. 20-02803) was originally filed in April 2020 in the U.S. district court in the Southern District of New York. Binance is accused of violating U.S. securities laws by selling cryptocurrencies that are allegedly unregistered securities. The exchange is also accused of failing to register as a securities exchange or broker-dealer with U.S. regulators. The case involves nine cryptocurrencies — EOS , QSP, KNC, TRX , FUN, ICX, OMG, LEND, and ELF — which the plaintiffs bought through Binance’s online exchange starting in 2017. However, the coins soon lost significant value. The pl...

It’s been another bustling week full of colorful stories in the crypto world, with Rich Dad Poor Dad author Robert Kiyosaki talking about the U.S. dollar imploding, and advocating people buy bitcoin, ethereum, and solana — not to mention talk of Spacex founder and CEO Elon Musk potentially starting his own free speech-focused social media network. On top of all this, the Ukrainian government has launched a “Museum of War” NFT collection, and massive amounts of sleeping bitcoin are on the move. So, without further ado, here’s your bite-sized digest of the week’s hottest crypto news. Robert Kiyosaki Warns US Dollar ‘About to Implode’ — Advises Buying Bitcoin, Ethereum, Solana The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has warned that the U.S. dollar is “about to implode.” Among the investments he suggested are cryptocurrencies bitcoin, ethereum, and solana. Read More Elon Musk Giving ‘Serious Thought’ to Creating Social Media Platform With Free ...

The Colombian tax authority, DIAN, has reminded taxpayers that they need to start registering cryptocurrencies in their statements starting this year. The director of the DIAN, Lisandro Junco, reminded cryptocurrency users that this kind of asset is taxed as any other asset held by citizens. Colombia has already collected $1 billion in digital economy-related taxes. Colombian Citizens Must Start Including Crypto in Their Tax Statements The Colombian tax authority has reminded taxpayers about their duty of declaring cryptocurrency assets in their tax statements starting this year. In a consultation made by local media, the organization informed the public that it is empowered to perform verifications on the received data from taxpayers to ensure the correct application of the tax laws of the country. The director of the tax authority, Lisandro Junco, informed about crypto assets and their tax status in Colombia. He declared: You have to pay taxes even if it is an element of the d...

Members of the team of the now defunct Turkish crypto exchange Thodex may receive thousands of years in prison, if the court backs the prosecutor’s plea in the case. The trading platform’s CEO has been missing for the past year since Thodex suspended activities in a suspected exit scam. Turkey Seeks up to 40,000 Years Jail Time for Thodex Defendants Faruk Fatih Ozer, founder and chief executive of the crypto exchange Thodex, and another 20 people involved in its operations, should each get up to 40,564 years of jail time, according to a Turkish prosecutor. The indictment was quoted by Demiroren news agency and Hurriyet, about a year after the platform stopped trading. The defendants are accused of establishing a criminal organization, fraud, and laundering of proceeds from illicit activities. The 28-year-old Ozer has been missing since last year and is still wanted on a red notice from Interpol, despite efforts by Turkish law enforcement to locate him in several countries. He was ...