According to TechFlow, on December 24, The Block reported that major markets around the world are strengthening tax supervision on cryptocurrencies. According to the latest policy, the US IRS classifies crypto assets as digital assets and adopts a taxation method similar to stocks and bonds. Specifically, there is no tax on simple purchase and holding, but "realization of gains" such as sales, exchange between cryptocurrencies, and shopping with cryptocurrencies are subject to capital gains tax; mining income, staking rewards, and wages received in the form of cryptocurrencies are subject to taxation as income.
The UK Revenue and Customs (HMRC) imposes a capital gains tax of up to 24% on cryptocurrency transactions, with a 10% tax rate for basic rate taxpayers and a tax exemption for the first £3,000. In addition, mining income and salaries paid in cryptocurrency are subject to personal income tax, and employers are required to pay national insurance for salaries paid in cryptocurrency.
The EU has not yet unified its tax standards, and there are significant policy differences among member states. Germany exempts capital gains tax for crypto assets held for more than a year, while selling within a year incurs a maximum income tax of 45%, plus a solidarity surcharge of 5.5%. Spain has a uniform tax rate of 19%-28% on crypto gains. Portugal, once considered a tax haven, has tightened its policies, with tax rates ranging from 14.5% to 53%, where the standard capital gains tax rate is 28%.
Paybis CEO Konstantin Vasilenko pointed out that as the EU MiCA regulations and travel rules come into effect in 2025, regulators will further strengthen tax oversight on crypto assets. Brickken's legal director Elisenda Fabrega added that although the EU is working to promote regulatory coordination, core tax policies such as tax rates, thresholds, and exemptions are still determined by the member states themselves.