The UK gov’t wants to know how many times a crypto asset has been transacted, how much it cost, what exchanges were used, and any profits.
The UK’s 40% tax rate means that £100,000 in inherited crypto could still incur a £40,000 bill, even if bereaved families can never spend it.
An IMF working paper highlights how the pseudonymous nature of cryptocurrency presents problems for tax collection.
The Panamanian Legislative Assembly has unanimously passed a bill recognizing digital assets as foreign-source income in a 40-0 vote.
After pushback from local industry insiders, Thailand has dropped its plans for a 15% crypto tax that would’ve penalized traders.
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