The members of parliament adopted a resolution calling on member states’ coordination for crypto assets’ taxation.
The resolution also suggested the adoption of blockchain technology for more transparent and efficient tax collection.
The crypto market noted the recovery of more than $47 billion in the last 24 hours after days of sideways movement.
Crypto regulation is undoubtedly one of the bigger concerns for governments worldwide, with crypto taxation equally a grave concern. While many other countries have already implied taxes on crypto transactions, the European Parliament is finally taking its first step in that direction.
EP brings taxes to crypto
The European Parliament (EP) members voted on a non-binding resolution on October 4, which sets out a framework for the crypto market. Receiving over 91.3% votes in favor of its passing, the resolution observed only seven votes against it.
This resolution works two ways within the crypto market, first by targeting crypto assets for...
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