NFT News Today TheBittimes.com

President-elect Donald Trump has signaled that his administration will take a friendlier approach to bitcoin and cryptocurrency, which may influence the way they are taxed in the US and abroad. In the US, bitcoin and crypto are currently viewed as property. Short-term gains (less than one year) are taxed between 10% and 37%, depending on income. Similarly, long-term bitcoin and crypto gains are taxed between 0% and 20%. US crypto holders may use their capital losses to offset their gains. For most individuals, the tax deadline is the same as for other assets: April 15. Up to the north, Canada taxes just 50% of a casual investor’s capital gains. Tax rates follow Federal Income Tax and Provincial Income Tax, meaning bitcoin and crypto are taxed between 15% to 33% depending on income. Gains may be offset by 50% of capital losses. Click to enlarge. Read more: CHART: How bitcoin and crypto are taxed in the EU Across the pond in the UK, capital gains tax ranges from ...

Joe Lewis, the 86 year-old billionaire owner of football club Tottenham Hotspur, was forced to secure possibly the largest bail bond in history while facing insider trading charges, worth $300 million — about $50 million more than FTX founder Sam Bankman-Fried. In an interesting twist of fate, Lewis sold Bankman-Fried numerous properties located in the Bahamas worth upwards of $76 million through his company Tavistock. Lewis is accused of helping his ex-girlfriend — then 23 year-old Carolyn Carter — and his personal pilots invest in numerous biotech companies before positive news was announced publicly. The three individuals cumulatively profited over half a million dollars. Joe Lewis, Sam Bankman-Fried, and Jean Chalopin Lewis, who owns thousands of acres of land in Argentina and moved to the Bahamas as a “tax exile” in 1975, has put his $250 million superyacht and his private plane up as collateral for his extremely high bail bond. The billionaire is pleading not...