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PwC - Global Crypto Tax Report 2024

Published: 2024-04

Organization: PwC

Tags: #crypto #tax #cryptocurrency

Overview: To say that the last year has been a difficult year for those working in the digital assets market would be an understatement, although markets appear to be recovering in early 2024. While many market participants have spent the year reflecting on what went wrong and considering how the sector can build back better and learn from 2022 and 2023’s failures, one group that has not stood still are the regulators. Change has taken many forms – be it enforcement against the sector (e.g., the US SEC and CFTC have lodged a number of enforcement actions against crypto exchanges), or working to introduce new regulations (with the EU, UK, Dubai, Hong Kong SAR, Singapore and many other markets releasing significant new regulations this last year).

In addition to financial regulation, tax has been an area where there has been significant development. We see the regulatory landscape as developing along three broad themes, each of which will require some new thinking or approaches to taxation. 

These articles supplement those on the issues we covered in our 2022 report covering decentralised finance and non-fungible tokens1. In addition to our three articles on international tax themes, our report has also significantly expanded its jurisdiction-specific pages. We now have coverage of 57 different tax regimes to create what we believe is an essential reference source for anybody working on taxation in this sector.

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