The New Zealand Inland Revenue Department has recently released a new tax information bulletin stating that income in cryptocurrencies is legal and taxable.

It also states that only “money-like” cryptocurrencies are to be taxed specifically on the income tax treatment of cryptocurrencies that form a part of the employees’ regular salary and are fixed to a predetermined amount or rate.

The new guidance also excludes any type of digital currencies that is not immediately convertible into fiat such as those digital assets that are subject to a lock-up period.

For the wage to be taxable according to the tax agency the significant purpose of the currency should be that of a currency or a peer-to-peer payment system not like a voucher, shares or debt securities.

More in more countries around the world are increasing their attention to the emerging asset class which seems to be an effort to clarify its regulatory stance on this new assets as well as to identify of probable case of tax evasions.

Headlines for the world of Cryptocurrencies - August 12, 2019

• Implications Of Trump’s Trade War With China On Bitcoin
• Kakao Allows A Sneak Peek On Forthcoming Crypto Wallet
• Indian Telecom Operator Building Blockchain Network For 330 Million Customers
• China Soon To Release Digital Currency
• Job Offering From The US Department Of Commerce

Headlines for the world of Cryptocurrencies - August 11, 2019

• Digital Yuan Development Accelerated
• Ripple To Leverage Its Advantages According To CEO
• India Will Soon Introduce Crypto Bill On Next Parliament Session
• New Jersey To Have Its Own Blockchain Task Force
• Holdings Company In South Korea Using Ripple Fork For Donations

Headlines for the world of Cryptocurrencies - August 10, 2019

• Digital Yuan Development Accelerated
• Ripple To Leverage Its Advantages According To CEO
• India Will Soon Introduce Crypto Bill On Next Parliament Session
• New Jersey To Have Its Own Blockchain Task Force
• Holdings Company In South Korea Using Ripple Fork For Donations