The Europe Now Movement (Pokret Evropa Sad) has announced that it will work with the world's biggest experts in the field of cyber security on a law that will protect the citizens of Montenegro and their capital from potential fraud in the crypto world. The president of the Europe Now Movement said that digital scams like Cheil Worldwide, Bitconnect, and more recently Terra were only stopped when... Read more

The European Union (EU) has put forward the DAC8 proposal, aimed at enhancing the detection and prevention of tax fraud, evasion, and avoidance. This legislative initiative aims to improve the ability of member states to combat these financial crimes. Additionally, the Organization for Economic Co-operation and Development (OECD) is working on a global crypto-asset reporting framework (CARF). Thes... Read more

The European Union (EU) VAT Committee has published a working paper on NFTs, which sets out the current NFT ecosystem landscape and provides qualifying definitions of NFTs and related concepts that are currently undefined in existing EU regulations. The working paper also provides guidance on the VAT treatment of NFT transactions, which must be analyzed on a case-by-case basis to determine whether... Read more

A Hong Kong-based court has recognized cryptocurrencies as property that can be owned and claimed, according to a ruling related to defunct crypto exchange Gatecoin. In the stated case, Judge Linda Chan reportedly said that crypto has property attributes. The court thought it was fine to follow the rationale applied by other jurisdictions: that crypto is property and can be subject to demand. T... Read more

On April 20, 2023, the European Parliament gave the green light to the first comprehensive rules for regulating the field of cryptocurrencies. According to the new regulation, service providers will have to protect the digital wallets of customers, and if they lose investors' crypto funds, they will have to be responsible for it. The purpose of the rules is to protect investors from abuse and mani... Read more

On March 15, 2023, Fiscal Solutions organized a free webinar on the topic of „Meet Fiscal Solutions – What is our core business?“. The webinar was held by Danilo Krstonijević, Account Manager at Fiscal Solutions. This webinar introduces us as an IT specialist for fiscalization and explains in detail what we do. Read more

Based on news from Banja Luka, Republic of Srpska has established a registry of intermediaries in the trade of cryptocurrencies, which continues to regulate this market. Also, what allowed for this novelty is that in the Republic of Srpska, a new regulation has been published as the Rulebook on the record of service providers related to virtual currencies. This country has established a registr... Read more

Japan’s National Tax Agency has published a guideline on the taxation of sales of non-fungible tokens (NFTs) and the profits earned by crypto and blockchain gamers. Namely, the tax in question that is to be applied to NFT transactions is a consumption tax, which is Japan’s equivalent of VAT. According to the guideline, NFTs in Japan qualify as a form of intangible property, and NFT transactions i... Read more

This presentation introduces you to the Metaverse in terms of business trade and regulation. What is the Metaverse? How can it become an opportunity for businesses? How is Metaverse being regulated? Read more

Interventions in taxation are being considered in Greece, as until now in this country's tax legislation there was no specific tax regime that governed the profits obtained by taxpayers from capital gains from the sale of cryptocurrencies. After the undeclared profits from "Airbnb-type" rentals,  the Independent Public Revenue Authority (TA) is now trying to "hand in," i.e., start to tax the profi... Read more

On December 8, 2022, the European Commission presented its proposal for the new tax transparency law, called DAC 8. This law, which supplements the MiCa crypto-asset regulation, would require all service providers facilitating crypto-asset transactions for EU customers to report crypto transactions of EU clients. DAC 8 would cover both domestic and cross-border transactions, and in some cases,... Read more

On November 16th, 2022, IDSt held a conference on the topic of „Digital Transformation in VAT." In one of the sessions, a discussion on use cases for blockchain in VAT was held. Namely, it was noted that there was a need to build a new, digital infrastructure for the exchange of tax-relevant data between companies and with the tax authorities in the future. This would include the use of blockch... Read more

While the European Parliament reached a provisional agreement on the markets in crypto-assets (MiCA) proposal, there is still little to no regulation in regard to NFTs in Europe. In the U.S., however, Wisconsin has become the fifth state to issue official guidance on the sales tax status of NFTs. Namely, it was established that the acquisition of an NFT may be taxable in cases where the product, g... Read more

On October 10, 2022, Fiscal Solutions organized a free webinar on the topic of „MiCa - the newest EU crypto regulation and things you need to know“. The webinar was held by Nevena Glušac, legal consultant at Fiscal Solutions. This webinar will solve your doubts, such as what MiCa regulates and doesn’t regulate, the certification process looks, etc. Read more

Animoca Brands, a game software company, has issued a set of NFT licenses available under creative commons in an attempt to create a legal framework that will ensure the enforceability of NFT royalties. This licence agreement sets out the terms relating to the grant of a licence in certain intellectual property, which is a collection of digital collectible tokens. The template for the NFT project licence Agreement, which can be used personally, commercially, and without any limits, can be found as follows. Read more

Following the NFT VAT regulations in Belgium and Spain, Italy has established its stance on VAT and crypto-assets. Namely, Italy has confirmed that both crypto utility tokens and the creation of tokens such as mining or forging are exempt from VAT. The reason for currency mining or forging being VAT exempt is that there is no provision of services to an attributable customer, which is a requ... Read more