We’ve been trawling through the world’s media for the latest developments in the field of cryptocurrency. And you know what? The most recent batch of news has its ups and downs. So, do you want the good news or the bad news first? We’ll start with the bad!
Indonesia plans To Tax Crypto Transactions profits
Indonesia plans to introduce a transaction tax on crypto trades with the collection process set to be automatic.
Meantime in Hungary…
…the outlook is better for crypto investors in Hungary. Capital gains on cryptocurrency transactions are set to be cut in half by 2022.
El Salvador Offering Bitcoin Incentives
More good news comes from El Salvador. They’ve already announced plans for Bitcoin to become legal tender. Now, they’re offering incentives to people who deal in Bitcoin – no capital gains tax and permanent residency to Crypto-entrepreneurs.
Kentucky’s Tax Breaks For Miners
More good news from the US! The state of Kentucky is offering tax breaks to crypto miners. If you invest a minimum of $1m in equipment, you can benefit from clean energy-focused incentives as well as sales and excise tax breaks.
As you can see, the latest developments aren’t all doom and gloom, but like any good news, you really have to mine it (pun intended!)
