Taxation on the Cryptocurrency | Live Bitcoin News

Cryptocurrencies are gaining popularity with time. And why shouldn’t they? After all, cryptocurrencies have given more millionaires than other fields. With so many people coming out of the cryptocurrencies trade with successful trades and profit, it has attracted the Government’s attention.

The U.S Government has issued a bill that states that all the people who are making a profit with the cryptocurrency trades, the taxation may be made depending on what you earn on an individual basis and a business level basis.

Individual Taxation

Here are the conditions that will lead to individual taxation.

• When you are investing in the crypto assets for individual cause, then you might be liable to pay CGT.
• Individuals who receive payments and paycheck in the form of cryptocurrencies come under regular income and are liable to pay normal income taxes.
• And if there are individuals who are trading in the cryptocurrencies and are taking cryptocurrency trade as their profession also comes under…