US and UK want to mitigate cryptocurrency taxation

US and UK want to mitigate cryptocurrency taxation
Recently, Japan has softened its tax laws regarding cryptocurrency trading and business. There are reports that the United States and the United Kingdom, where high taxes are applied to cryptocurrencies, may follow the example of Japan.

Aspiring to the mainstream, blockchain and cryptocurrency firms continue to resist outdated legislation.

Realizing this, the three largest economies in the world - the United Kingdom, the United States and Japan - are taking steps to regulate cryptocurrencies and wisely manage the generated taxes.

Changes in Japanese law classify profits from mining or trade as “other income”, which will be taxed at about 55% for high-yield companies. Financial regulators in Japan have introduced a legal framework ...
Read more about "US and UK want to mitigate cryptocurrency taxation" on coinatory.com

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