PDAXScope: PH crypto tax, Iran exchange hack, Thai tax break

The Philippine government is moving toward formal crypto taxation, with a task force under the Department of Finance studying digital asset taxes, as reported by BitPinas. Currently, crypto profits are taxed under general rules like capital gains and income tax, however, no specific laws exist yet. Officials say clear guidelines should be in place by 2028, aligning with global standards and making reporting easier for traders.

Nobitex, a major Iranian crypto exchange, was reportedly attacked by hackers, resulting in $90 million worth of digital assets being wiped out, according to Reuters. The hackers not only drained funds but also destroyed the platform’s internal data. 

Thailand has approved a five-year tax exemption on income earned from crypto trading and investments, as reported by Cointelegraph. This move is aimed at attracting more digital asset activity and encouraging blockchain innovation in the country. The exemption applies to both Thai and foreign investors and covers gains made through regulated exchanges.

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