Taxation

Nigeria will monitor cryptocurrency transactions under the Nigeria Tax Administration Act (NTAA) 2025, signaling tougher tax enforcement for digital assets. The announcement raises privacy and compliance concerns among users and exchanges.

India's tax and regulatory authorities have tightened KYC rules for crypto onboarding, saying cryptocurrencies and permissionless blockchains undermine effective tax collection. The move is aimed at improving traceability but may raise compliance burdens for exchanges and users.

Forty‑eight jurisdictions have agreed to new cross‑border crypto data‑sharing and reporting standards, increasing tax transparency and oversight. The move is designed to fold digital assets more tightly into mainstream finance while curbing tax evasion.

Japan's government has backed a proposal to impose a flat 20% tax on cryptocurrency gains, aligning crypto with investment trusts and stocks. The move aims to simplify tax treatment and could lower effective taxes for some investors, though it still needs parliamentary approval.

Brazil is considering taxing cryptocurrencies used for international payments to close a loophole in its foreign-exchange tax, two officials told Reuters. The move could reshape remittance flows and affect exchanges and payment providers if implemented.