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06 November 2018

Confusion reigns over cryptocurrency tax treatment

The continuing reluctance of national tax authorities around the globe to issue detailed guidance on the treatment of digital currencies has been an increasing concern for businesses over the past five years. The situation is arguably more confused today than it has ever been. Virtual currencies and other crypto assets have increased greatly in number. About 1,500 digital currencies exist, along with an ever-expanding range of other crypto assets, such as utility and securities tokens. An EY article provides details on determining which transactions are taxable and answers to other questions.

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Document ID: 2018-6289

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