How Ambiguous Regulations Complicate Crypto Taxation

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From America to the United Kingdom and from Russia to Australia, cryptocurrency taxation in major bitcoin strongholds is complicated. Contradictory or non-existent laws, excessive red tape, and maddeningly vague guidelines have conspired to make the tax-paying process more arduous than it need be. Now, a number of advocates are pushing for simplified crypto tax guidelines...

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Kevin Hobbs is the CEO of Vanbex, a Canadian blockchain services company that specializes in cryptocurrency taxation. He told news.Bitcoin.com: “Tax agencies, like other government agencies, need to provide proper guidance for how to account for cryptocurrency holdings and the trading or transferring of those assets along with a proper explanation for the do’s and don’ts that go along with that.”

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