This first article in our three-part series on the Guidelines addresses the threshold question every VASP needs answered before anything else applies: what, precisely, counts as a taxable virtual asset, and which taxes attach to it. Subsequent articles will address taxable and non-taxable events, the calculation and collection mechanics, and the compliance burden the Guidelines impose.
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January 1, 2023
A Rundown of Crypto Regulations Around the World in 2022
Given the high rate of regulation in the preceding year, 2022 started on a promising note for the crypto industry, with a total market cap of $2.2 trillion on January 1. At the time of writing, global market cap is about $810 billion, representing a drop of over $1.3 trillion. This is huge. And this perhaps demonstrates why crypto regulation is vital. Consumer protection and investor safety must be safeguarded. Here’s a rundown of crypto regulations around the world in 2022.