Crypto taxes are a hot topic these days that becomes increasingly important for governments around the world. Earnpark is not responsible for your personal taxes, but we recommend you learn the individual tax code for capital assets in your native country.
The crypto industry is still growing, and many governments around the world are yet to decide on how to tax them. At the same time, crypto adoption is increasing at a rapid pace, and authorities will soon have to issue clear guidelines for crypto assets.
When it comes to crypto taxes, the following elements often determine how much you’ll be taxed:
Holding period
Crypto losses to reduce taxable income
Trading frequency
In the end, you may or may not prefer to pay taxes on your crypto assets. Yet, the global attention that the crypto market receives is definitely a positive sign. It may lead to the adoption of digital assets and benefit every crypto enthusiast.