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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

SCHEDULE OF LOSS OR INCOME BEFORE INCOME TAXES FROM CONTINUING OPERATIONS

For the year ended December 31, 2022, 2023 and 2024, loss or income before income taxes from continuing operations consists of:

 SCHEDULE OF LOSS OR INCOME BEFORE INCOME TAXES FROM CONTINUING OPERATIONS

		2024				2023				2022
		For the year ended December 31,
		2024				2023				2022
		US$				US$				US$
Cayman Islands: Mercurity Fintech Holding Inc. (“MFH”)			(1,384,127	)			(6,120,978	)			(7,992,466	)
US: Mercurity Fintech Technology Holding Inc. (“MFH Tech”)			(2,594,153	)			(2,662,392	)			8,776
US: Chaince Securities, Inc.			(100,291	)			(45,346	)			—
US: Chaince Securities, LLC (formerly known as JVDA, LLC)			(30	)			—				—
Hong Kong: Ucon Capital (HK) Limited (“Ucon”)			(23,652	)			(496,006	)			(1,317,169	)
PRC: Lianji Future Technology Ltd. (“Lianji Future”)			(93,360	)			(121,212	)			(177,053	)
Loss or income before income taxes from continuing operations			(93,360	)			(121,212	)			(177,053	)

SCHEDULE OF CURRENT AND DEFERRED COMPONENTS OF THE INCOME TAX EXPENSE

The current and deferred components of the income tax expense from continuing operations in the consolidated statements of comprehensive loss are as follows:

 SCHEDULE OF CURRENT AND DEFERRED COMPONENTS OF THE INCOME TAX EXPENSE

		2024				2023				2022
		For the year ended December 31,
		2024				2023				2022
		US$				US$				US$
Current tax expense			—				(587	)			(2,294	)
Deferred tax (expense)/benefit			(336,985	)			91,363				251,005
Income tax (expense)/benefit			(336,985	)			90,776				248,711

SCHEDULE OF INCOME TAX BENEFIT FROM CONTINUING OPERATIONS

SCHEDULE OF INCOME TAX BENEFIT FROM CONTINUING OPERATIONS

		US (MFH Tech)				US (Chaince Securities, Inc.)				US (Chaince Securities, LLC)				Hong Kong				PRC				Consolidated
		For the year ended December 31, 2024
		US$				US$				US$				US$				US$				US$
		US (MFH Tech)				US (Chaince Securities, Inc.)				US (Chaince Securities, LLC)				Hong Kong				PRC				Consolidated
Loss before income taxes			(2,594,153	)			(100,291	)			(30	)			(23,652	)			(93,360	)			(2,811,486	)
Income tax computed at applicable tax rates			(544,772	)			(21,061	)			(6	)			(3,903	)			(23,340	)			(593,082	)
Current losses unrecognized deferred income tax			544,772				—				6				3,903				23,340				572,021
Temporary difference between the book value of intangible asset and its tax base			—				—				25,200				—				—				25,200
Effect of different tax rates in different jurisdictions			-				-				-				-				-				-
Non-deductible expenses			-				-				-				-				-				-
Prior income tax expense recognized in current period			-				-				-				-				-				-
Changes in valuation allowance			—				—				—				332,846				—				332,846
Income tax expenses/(benefits)			—				(21,061	)			25,200				332,846				—				336,985

		US (MFH Tech)				US (Chaince Securities, Inc.)				Hong Kong				PRC				Consolidated
		For the year ended December 31, 2023
		US$				US$				US$				US$				US$
		US (MFH Tech)				US (Chaince Securities, Inc.)				Hong Kong				PRC				Consolidated
Loss before income taxes			(2,662,392	)			(45,346	)			(496,006	)			(121,212	)			(3,324,956	)
Income tax computed at applicable tax rates			(559,102	)			(9,522	)			(81,841	)			(30,303	)			(680,768	)
Current losses unrecognized deferred income tax			559,102				—				—				30,303				589,405
Prior income tax expense recognized in current period			587				—				—				—				587
Income tax expenses/(benefits)			587				(9,522	)			(81,841	)			—				(90,776	)

MERCURITY FINTECH HOLDING INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

(In U.S. dollars, except for number of shares and per share (or ADS) data)

		US				Hong Kong				PRC				Consolidated
		For the year ended December 31, 2022
		US$				US$				US$				US$
		US				Hong Kong				PRC				Consolidated
Income/(Loss) before income taxes			8,776				(1,317,169	)			(177,053	)			(1,485,446	)
Income tax computed at applicable tax rates			1,843				(217,333	)			(44,263	)			(259,753	)
Effect of different tax rates in different jurisdictions			451				—				—				451
Non-deductible expenses			—				—				785				785
Current losses unrecognized deferred income tax			—				—				43,478				43,478
Prior losses recognized deferred income tax in current period			—				(33,672	)			—				(33,672	)
Income tax expenses/(benefits)			2,294				(251,005	)			—				(248,711	)

SCHEDULE OF SIGNIFICANT COMPONENTS OF THE DEFERRED TAX ASSETS AND LIABILITIES

The significant components of the Company’s deferred tax assets were as follows:

 SCHEDULE OF SIGNIFICANT COMPONENTS OF THE DEFERRED TAX ASSETS AND LIABILITIES

		December 31,				December 31,
		2024				2023
		US$				US$
Deferred tax assets
Net operating loss carry forwards			124,609				103,548
Impairment of intangible assets			238,821				238,821
Valuation allowance			(332,846	)			—
Total deferred tax assets			30,584				342,369

Deferred tax liabilities

The significant components of the Company’s deferred tax liabilities were as follows:

		December 31,				December 31,
		2024				2023
		US$				US$
Deferred tax liabilities
Temporary difference of intangible asset			25,200				—
Total deferred tax liabilities			25,200				—

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(1)(Note 1))
-Publisher FASB
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