Global #Crypto Taxation

A new bill, Assembly Bill 8966, has been introduced in the New York State Assembly that would impose a 0.2% excise tax on all crypto and NFT transactions.

The Philippines has cemented its status as a leader in digital asset adoption, with a comprehensive regulatory framework that began in 2017.

New Zealand continues to approach cryptocurrency with a unique and evolving regulatory stance. Rather than treating crypto as legal tender, the country recognizes it as property for tax purposes—a move that has shaped its digital asset landscape since 2018.

Japan continues to lead in crypto regulation and adoption, maintaining its reputation as a global front-runner in digital asset oversight.

The Philippines has steadily cemented its position as one of Southeast Asia’s most crypto-forward nations. The journey began in 2017 when the Bangko Sentral ng Pilipinas (BSP) introduced a formal regulatory framework for virtual currency exchanges and crypto-to-fiat services.

India’s approach to cryptocurrency remains complex and cautious. While the government hasn’t outlawed digital assets, its regulatory posture includes some of the harshest tax rules in the world—creating a stifling environment for both investors and exchanges.

China was once one of the largest and most enthusiastic markets for cryptocurrency, with early adoption of Bitcoin and Ethereum gaining traction among citizens.

Elon Musk, the enigmatic tech mogul, recently ignited a firestorm within the cryptocurrency community with a series of X posts.

South Korea's cryptocurrency market has experienced a significant surge in trading volume, surpassing even the nation's stock market by a margin of 22%.

Israel's State Comptroller, Matanyahu Englman, has sharply criticized the Tax Authority for its failure to strengthen efforts to collect taxes on cryptocurrency transactions, highlighting a significant gap in the country's tax collection capabilities.

Italy has stirred the crypto community with its recent announcement to significantly raise the capital gains tax on Bitcoin and other cryptocurrencies.

Cryptocurrencies have increasingly become a central element in the global financial ecosystem, offering novel opportunities for investment, trading, and technological innovation.