Around the World in 2019 — A Landmark Year for Crypto Taxation

2019 was, without a doubt, a milestone for crypto taxation. Countries around the world realized cryptocurrencies are here to stay and adjusted their crypto tax policies as a result. This year alone, several countries have been busy establishing and amending crypto tax legislation. Governments around the world have published updated guidance, changed crypto tax rules, and used crypto tax benefits to attract high-net individuals, while some even banned crypto completely. Looking at the crypto tax legislation worldwide in 2019, one thing is apparent: No one can deny crypto tax anymore. Crypto is considered an asset and is therefore taxable. Whether you pay them or actively choose to avoid them, you are aware of the implications of your actions.

Let’s take a closer look at 2019 worldwide crypto tax legislation:

North America

United States: New guidance, changing tax forms, and enforcement letters:

It was a hectic year for the Internal Revenue Service.

After sending thousands of letters…