It’s an understatement to say that at the moment investing in Bitcoin and other cryptocurrencies is a lucrative business that attracts more and more people. And, of course, given the volumes of trade and the gains made in transactions related to this activity, it has come to be considered taxable.
Therefore, governments have started to build up the legal arsenal to regulate the taxation of cryptocurrencies. Of course, this change of direction did not go unnoticed by investors. However, according to a recent survey conducted by Childly, it would seem that the majority of them are now in favor of it. But what does this really mean in practice?
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66% of respondents in favor of taxing cryptocurrencies
These figures come from a survey conducted by Childly – a South Korean wallet provider – among more than 5,750 cryptocurrency users worldwide. To go into more detail, 48% of them fully approved of the measure, which even described taxes on digital assets as unavoidable. In addition, 18% of the respondents – although in favor of paying taxes – wanted to see lower conditions for an acceptable level of taxation. While government tax authorities may smile at these figures, there are nonetheless some who are opposed to them.
For example, the study suggested that 20% of the users surveyed were not in favor of such taxation, especially in its current form. Nearly half of them think that it is too early to apply it and that it would be better to take time to explain the conditions. As for the other half of the dissidents, the disagreement with taxation is deeper. They are calling for a completely new tax framework and rules, different from what applies to other types of assets. As suggested by Eunti Kim – Executive Director of Childly – their opinion should be taken into account in order to get everyone…