The entire area of cryptocurrency and taxation remains murky and complicated, with no consistency from one jurisdiction to another. The peer-to-peer nature of crytocurrency transactions naturally leads some people to use them as a way to avoid paying their due, but some countries certainly appear to be making it virtually impossible to account for yourself legally, and the approaches are very diverse. Is your crypto a stock, a currency, a property or all three..? You can only get advice about your own liabilities and situation from a tax professional certified in your location, but this round-up of the different frameworks is an excellent place to start your research:
Cryptocurrencies as an asset class are a very new thing in general, having only existed for a few years. Governments around the world are still learning about them and subsequently enacting regulations and laws governing them. One big question that many cryptocurrency investors are sure to have is this: […]