The consulting company Pricewaterhouse Coopers (PwC) has published a rating of countries with the best conditions for taxing cryptocurrencies. Liechtenstein became the leader for the second year in a row.
According to the report, analysts at the auditing firm took into account 19 parameters when assessing each jurisdiction. They stressed that regulators in most countries are not yet able to keep up with the rapid advances in technology. For example, the emergence of decentralized finance and collectible tokens.
Liechtenstein is ranked number one for the second year in a row. Australia came in second and Malta came third. As the authors of the report noted, all these countries have improved their performance compared to last year, which means that the regulation of cryptocurrencies in them continues to develop.
Interestingly, Germany, which last year ranked only 20th in the ranking, took 4th place this year. This was facilitated by the development of a draft law on income tax on cryptocurrencies, as well as the development of asset tokenization and the issue of token-shares with the approval of the local regulator.
Interestingly, El Salvador, despite accepting bitcoin as a means of payment, did not take the highest position. According to analysts, despite the rapid development in relation to cryptocurrencies, there is still no real law on taxation of digital assets in the country.
Russia, India, China, Ukraine and many other countries with wide popularity of cryptocurrencies are not included in the rating, although the audit company included such countries as Peru, Malaysia, Vietnam and Saudi Arabia in the rating, with very modest participation in the global cryptocurrency market. Recall that in early November, Bits.Media published a large-scale article on the taxation of cryptocurrencies in Russia.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
