Photo by BeInCrypto On December 20, a bipartisan pair of US lawmakers introduced new crypto tax legislation to modernize the emerging industry. The bill, called the Digital Asset PARITY Act, was sponsored by Reps. Max Miller and Steven Horsford. The legislation proposes to close the industry’s most lucrative "wash sale" loophole in exchange for significant tax relief on staking rewards and everyday payments. Key Provisions of the Digital Asset PARITY Act The bill’s most financially consequential provis ...

The Hong Kong government has opened a public consultation on adopting the OECD’s Crypto-Asset Reporting Framework (CARF) and updating the long-standing Common Reporting Standard (CRS). This comes as the city aims to integrate cryptocurrencies into global tax-transparency systems and cross-border financial reporting. Officials say the initiative would introduce automatic exchange of crypto-related tax data between Hong Kong and eligible partner jurisdictions from 2028. The full implementation is expected t ...