Also Ukraine brings tax rules for Bitcoin and Altcoins

There is a lot going on in the world on the question of the legal treatment of crypto assets. Ukraine pursued its legalisie path.

A number of countries have adopted 2020 measures

Now the positive headlines, but in quick succession. We reported on this site yesterday about the developments in some countries, the legal assessment of digital currencies such as Bitcoin and Ethereum. As has long been expected, decided to South Korea for the realization of a new law. That those in charge decided, a draft law to wave through the crypto-currencies now, finally, in the legal world, had several reasons. For the government to think longer about their own plans for a state Stablecoin. In addition, there have been repeated debates on the taxation of digital currencies, which up to now was in a kind of grey zone. Time-just before the news from South Korea, there was News of a judgment of the Supreme court of India which overturned the existing ban in the country.

Corruption and other crime is to be combated

Now the authorities of Ukraine report literally to the word. It is true that it is also there in the question of the legalization less, to a warm Welcome in the direction of BTC and co. Also there would probably ensure that, in the first line of the Treasury for clear conditions. Add to that the fear of illegal activities, in which cyber criminals with Privacy Coins like Monero easy game. The battle of the National Agency for the prevention of corruption, against crime, thanks to new rules also ordinary taxpayers will be affected. As a result of the new guidelines will be that Coins received in the future legal Status of “immatrieller assets”. For investors, this means that you must provide information about their holdings. The first reports go back to reports in Russian news portals.

International harmonisation on the Basis of the FATF Standards

That crypto-currencies, especially Bitcoin and other leading Coins are now accepted, finally, for citizens, with the Investment your choice, of course, an advantage. The new guidelines on the Basis of the world’s increasingly implemented FATF requirements increases for taxpayers at the same time, the effort. In the case of the tax Declaration of assets must specify values for the crypto world in the Ukrainian currency, the hryvnia, converted and to the competent authorities to make a report. For the conversion at the daily exchange rate for the tax year-end is always. The starting point for the tax scheme was not least the end of 2019, adopted by the Parliament regulation act. This consisted of guidelines for the crypto-trade. In the future, may offer in addition to stock exchanges and private persons crypto products. Even the authorities in real Kryptofan is seated according to the messages. For example, some employees had been prior to the new scheme in Bitcoin, and Altcoins in the initiative reported for tax purposes.

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