The UK government is hitting those who sell crypto by lowering the Capital Gains Tax tax-free allowance. It'll be reduced in 2023 and then again in 2024 so those who sell assets pay more tax.
Capital gains tax RSS
Bipartisan legislation being proposed would make small crypto transactions exempt from capital gains taxes in the U.S. This could help cryptocurrencies better perform their namesake task.
Accountants and financial advisors have warned that people may unknowingly be accruing high capital gains tax bills by using crypto-based debit and credit cards to make purchases in stores.
Reports suggest President Biden will increase the capital gains tax to 39.6%. This has sent the price of bitcoin and other cryptocurrencies tumbling but it's too early to say what will happen next.
