The New Zealand ACT Party proposes to exempt capital gains tax on cryptocurrency assets held for over 1 year

The fourth largest party in the New Zealand Parliament, the Association of Consumers and Taxpayers ACT, proposed to exempt individual retail investors who ...

• The New Zealand ACT Party proposes exempting capital gains tax on cryptocurrency assets held by individual retail investors for over one year.
• The proposal also includes tax exemptions for small personal crypto consumption and aims to establish clear rules for stablecoins, tokenized securities, and real-world assets.
• This initiative seeks to foster digital finance and innovation in New Zealand by reducing regulatory burdens and creating a supportive environment for startups.

Topics: Legal regulatory, Jurisdictions, Blockchain usage, Securities law classification, Emerging hubs, Private enterprise ledgers

Tags: #newzealand #actparty #cryptocurrency #capitalgainstax #taxexemption #retailinvestors #tokenizedsecurities #realworldassets #regulatorysandbox #digitalfinance

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Hundreds settle with HMRC as crypto tax crackdown continues

• HM Revenue & Customs (HMRC) has recovered over £8 million from hundreds of crypto investors through tax settlements, following a crackdown on tax evasion.
• The settlements are part of a broader compliance effort, including 'nudge letters' and new international reporting rules (OECD's Carf) to track crypto gains.
• Despite the settlements, HMRC indicates this is likely the 'tip of the iceberg' of non-compliance, with many investors still unaware that crypto gains are taxable.

Topics: Legal regulatory, Compliance, Jurisdictions, Enforcement actions litigation, Aml antimoneylaundering, Regulatory sandboxes pilots

Tags: #hmrc #cryptotax #taxevasion #settlements #capitalgainstax #nudgeletters #uk #oecdcarf #cryptoinvestors #taxnoncompliance

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