BTC $78,912.08 +0.00%
ETH $2,471.11 -1.40%
BNB $692.36 -1.18%
XRP $1.38 -3.30%
SOL $103.75 -2.82%
TRX $0.3336 -2.06%
DOGE $0.0832 -3.40%
ADA $0.1980 -3.44%
BCH $247.69 -2.26%
LINK $11.41 -2.23%
HYPE $83.96 +0.63%
AAVE $123.65 -3.83%
SUI $0.7262 -4.05%
XLM $0.1785 -1.64%
ZEC $861.78 -1.01%
BTC $78,912.08 +0.00%
ETH $2,471.11 -1.40%
BNB $692.36 -1.18%
XRP $1.38 -3.30%
SOL $103.75 -2.82%
TRX $0.3336 -2.06%
DOGE $0.0832 -3.40%
ADA $0.1980 -3.44%
BCH $247.69 -2.26%
LINK $11.41 -2.23%
HYPE $83.96 +0.63%
AAVE $123.65 -3.83%
SUI $0.7262 -4.05%
XLM $0.1785 -1.64%
ZEC $861.78 -1.01%

ax

All
Article
Flash

first_img Ireland's new tax incentive investment accounts will exclude cryptocurrencies

Ireland is preparing to exclude cryptocurrencies from the government-designed personal investment accounts set to launch in 2027, which will allow savers to invest in listed stocks, bonds, and exchange-traded funds (ETFs). The Irish government has classified cryptocurrencies and derivatives as "highly complex and higher-risk products" in its retail investment tax roadmap, and they will not be included in the scope of qualifying assets.The new accounts will set a yet-to-be-determined tax-free threshold, with amounts above the threshold subject to a low tax rate based on annual average value, and the existing deemed-disposal regime (which taxes unrealized gains at a rate of 38% every eight years) will not apply to investments within the accounts. Account providers will be responsible for calculating, reporting, and paying taxes to the Irish Revenue Commissioners, and savers will not face minimum contribution amounts, holding period, or lock-in period restrictions.The product list follows the European Commission's September 2025 recommendations regarding savings and investment accounts, which exclude high-risk and complex derivatives and cryptocurrencies, but with the exception of tokenized financial instruments. Tax rates, thresholds, and annual contribution limits are expected to be determined in the 2027 budget to be announced in October. Research from the Central Bank of Ireland shows that 38% of Irish households' financial assets are held in cash and deposits, higher than the EU average of 30%.

The UK's first cryptocurrency tax report shows that 240 people declared £717 million in capital gains

The UK government has released the first official statistics on taxable crypto asset gains, revealing that in the 2024-25 tax year, 240 individuals reported capital gains exceeding £1 million, totaling £717 million, which accounts for more than half of the total £1.38 billion reported by 17,600 individuals. The HM Revenue and Customs (HMRC) stated that 17,600 individuals reported crypto asset disposal gains of £13.8 billion, with taxable gains of £1.38 billion, averaging about £78,000 per person; of these, approximately 87% were male and 13% were female.Selling, exchanging, consuming tokens, or gifting assets to others may trigger tax obligations. HMRC has sent out 81,000 crypto tax letters in the past 12 months, an increase of 25% from about 65,000 letters, approaching the 27,714 letters sent in the 2023-24 tax year. James Murray, the Financial Secretary to the Treasury and Director of Payments, stated that crypto asset gains are subject to tax just like other gains. The UK plans to adjust the tax treatment of certain DeFi transactions starting from April 6, 2027, with related lending and liquidity pool transactions typically deferring capital gains tax until an economic disposal occurs, expected to affect about 700,000 individuals. HMRC estimates that its crypto tax compliance and education activities have generated an additional £168 million in capital gains tax for the 2024-25 fiscal year.

240 cryptocurrency asset taxpayers in the UK reported £717 million in capital gains, accounting for more than half of the total

The UK's HM Revenue and Customs (HMRC) stated that for the 2024 to 2025 tax year, 240 individuals each reported capital gains from crypto assets exceeding £1 million, totaling £717 million, accounting for more than half of the total. The capital gains of all 17,600 filers amounted to £1.38 billion, with disposals totaling £13.8 billion. Taxpayers reporting capital gains below £25,000 accounted for 65%, contributing only 7% of the capital gains and 8% of the disposals.Among crypto asset taxpayers, 54% are aged between 25 and 44, and 81% are under 54; males account for 87%, contributing 93% of the capital gains. The UK is advancing regulation based on the OECD crypto asset reporting framework, requiring trading service providers to provide customer information to tax authorities, with HMRC set to start receiving relevant data in 2027; service providers failing to comply will face fines of up to £300 per user. James Murray, Financial Secretary to the Treasury, stated that capital gains from crypto assets are subject to tax just like other capital gains. The UK Treasury plans to defer capital gains tax on DeFi lending and assets deposited into liquidity pools until the actual disposal of the assets. For the 2025 to 2026 tax year, capital gains exceeding the tax-free allowance must be reported by January 31, 2027.

FinTax completes seed round financing and begins long-term ecological collaboration with YZi Labs

Cryptocurrency financial and tax solutions provider FinTax announced the completion of its seed round financing, led by YZi Labs, with participation from Amber, Hash House, Pundi AI, Waverider International, and Nexus Holdings, resulting in a post-investment valuation of $40 million. Previous round investors include Victory Courage, BGIN, Tools Factory, and individual investor Fan Chao.In recent years, YZi Labs has been continuously investing in stablecoins, RWA, payment, and institutional-level digital asset infrastructure. Leveraging FinTax's expertise in on-chain data processing, crypto accounting, cross-jurisdictional tax practices, and crypto asset financial auditing, both parties will explore long-term ecological collaboration around institutional-level financial and tax infrastructure, compliance standards, and emerging scenarios such as stablecoins, RWA, and payments.Following this round of financing, FinTax will accelerate the scaling of its five product lines, expanding its business from the Asia-Pacific and North American markets to Europe and the Middle East, and deepening the application of AI in complex financial and tax scenarios. FinTax will continue to promote the dual iteration of blockchain and legal systems across dozens of jurisdictions, enabling on-chain economic activities to connect with the real-world financial and tax systems.
app_icon
ChainCatcher Building the Web3 world with innovations.