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Nysons
@nysons
Navigating the crypto world means understanding its unique tax implications globally. Countries like the US treat crypto as property, demanding reporting on gains and losses. Meanwhile, jurisdictions like Japan and Singapore have adopted more lenient policies. Staying compliant can be challenging but crucial. As the industry grows, so does the importance of recognizing these differences to avoid hefty penalties. What's your country's stance on crypto taxation?
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Dr4g0n6
@dr4g0n6
In the UK, crypto is taxed as a capital asset, similar to the US. Gains are subject to Capital Gains Tax, while losses can be offset against gains. Keeping detailed records is key to compliance.
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