10 Major Updates in Cryptocurrency Taxation of Q1 of 2019
The first quarter (Q1) of 2019 introduced several key legal updates concerning cryptocurrency taxation. Q1 has seen various countries such as Italy, United States (U.S), Japan, Denmark, Poland, Romania, Venezuela, Indonesia, South Africa, India, Chile and others, define tax treatment for cryptocurrencies including Bitcoin (BTC), the top virtual asset by market cap (MC), Ethereum (ETH) and Ripple (XRP).
Italy Plans Using Blockchain in Fighting Tax Evasion
Blockchain technology has the capability to offer steadfast, dependable and reliable information in real time to a massive Italian population, creating a system where both taxpayers and tax collectors have equal assurance in the candor of the data gathered. It can be used to combat tax evasion in Italy and other parts of the world.