The European Union is finally moving to regulate via a tax, Bitcoin and the rest of cryptocurrencies. The taxation is just one of many regulatory maneuvers that there will be starting in 2023, the year of transparency and regulation of crypto businesses.
From capital gains tax to the redetermination of Bitcoin’s value, here are the EU’s moves
On Thursday, the European Union specifically stated that it will make sure that all companies engaged in the crypto world, report the holdings of their European users to tax authorities. The directive, has a clear purpose and could go so far as to force companies based outside the EU to register with local tax authorities.
“Anonymity means that many crypto-asset users who make significant profits fall under the radar of domestic tax authorities. This is not acceptable.”
These are the words of the European Commissioner for Taxation, Paolo Gentiloni.
It is not yet known how these measures will be applied, given the various entities an
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