How and why to pay taxes in crypto.
It is hard to define cryptocurrency taxes, because there is a lot of controversy surrounding it today. Society still has no consensus even on whether digital currencies are a property or a currency, and that triggers a huge difference in taxation procedure. The speed of exchange rate flows makes it impossible to establish a taxation time period equally suitable for everyone. Also, there are a lot of cryptocurrencies that were particularly designed to protect user’s anonymity and their protocols wouldn’t allow any government to tax it.
As cryptocurrency market is growing, and its sheer dollar value makes it more likely to catch an attention of regulators. Cryptocurrencies are also a great way of money laundering, so no government will be able to ignore the subject. Today there are a lot of news about new cryptocurrency taxes laws and it looks like there will be more over time.
- Bitcoin Breaks $200 Billion Market Cap For the First Time in 17 Months
- US House of Representatives to Hold Hearing on Facebook’s Libra in July
- Crypto Analyst Says Bitcoin Price Could Hit $100,000 During Next Bull Run
- President of Uganda to Lead Blockchain Conference in Kampala in July
- Price Analysis 24/06: BTC, ETH, XRP, LTC, BCH, EOS, BNB, BSV, TRX, ADA