Your Essential Cryptocurrency Taxation Guide for 2019 By Cryptovest

The growing popularity of cryptocurrencies has undoubtedly shaken up the global financial system, with governments around the world wrestling in a variety of ways with the economic ramifications. One of the most important and obvious topics on the agenda is taxation, since states are inclined to collect what they believe they’re owed on earnings made in the cryptosphere. In recent years, a slew of regulations have either been glancingly touted or come into force, in many cases generating puzzlement rather than comfort. However, although not every government has finalized a coherent position on cryptocurrency tax, the advice from experts is to diligently maintain records on gains made and losses incurred from trading activity.

Even if the tax authorities in your country are not yet crystal-clear on the nature of your responsibilities, imagine being asked – next year or the year after – to account for profits earned from trading…