Cryptocurrency Is Providing a Lucrative New Revenue Stream for Governments

Cryptocurrency’s resistance to government control is countered by the fact that a number of governments, including Chile, Romania, Spain and South Africa, are looking to cash in by taxing crypto assets. These countries are crafting laws that bind citizens to annually disclose cryptocurrency investments that, in some cases, are held at home and abroad, and to pay anything from 10-35 percent income tax on crypto gains.

Also read: Italian Court Orders Bitgrail Founder to Refund $170M of ‘Missing’ Cryptocurrency

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