Even though there is only one cryptocurrency currently in the private sector, individuals who earn income in cryptocurrency are still required to pay taxes. The tax regulations regarding cryptocurrencies can vary from country to country, but generally, any income earned from cryptocurrency, such as through mining or trading, is subject to taxation. It is important for individuals to accurately report their cryptocurrency income and comply with the tax laws of their respective jurisdictions. Failure to do so can result in penalties and legal consequences. Therefore, it is crucial for cryptocurrency earners to stay informed about the tax obligations associated with their income.
HomeDIGITAL ASSETS REGULATORYbis_asset_updateWill Emerging Technologies Make Banks Irrelevant? Exploring Fintech, Bigtech, and Cryptocurrencies with...