Taxation Procedures

Tax authorities worldwide try to benefit from the wealth in cryptocurrency with varying degrees of success. Countries like the UK, Israel, Denmark, Switzerland, Argentina, and Bulgaria all have crypto taxation laws in different classifications. However, other countries allow their citizens to trade cryptocurrency with zero taxation. These include Portugal, Germany, Singapore, Malta, and Malaysia.  While countries have made milestones in cryptocurrency taxation, understanding the process is still complicated. Some guidelines are vague or sophisticated, which frustrates crypto users who wish…

Cryptocurrency Legislation Over the past 4-5 years, the legislation of cryptocurrencies, blockchain, and similar instruments has become one of the most critical regulatory authorities' tasks. Even though regulation is of utmost importance, the sudden spark has its reasons. Scrupulous practices such as ICO scams, exchange hacks, unregulated creation of monetary schemes, etc., have made it necessary. As a result, governments worldwide acknowledge the importance of regulatory oversight for keeping a check on the space. This has received a lot of…