US, UK, and EU Cryptocurrency Tax Regulatory Upgrades: Investors Need to Be Vigilant of Key Tax Rates and Compliance Requirements

According to The Block, the United States, United Kingdom, and European Union are strengthening tax regulations on cryptocurrencies, which has a significant impact on investors. In the United States, cryptocurrencies are considered digital assets and are subject to capital gains tax on their sale or transaction, with the tax rate depending on the holding time and income level; Miners and pledged profits are required to pay income tax, and from 2025 onwards, exchanges will be required to report user data. In the UK, the sale or exchange of cryptocurrency assets is subject to capital gains tax, with a maximum tax rate of 24% and an annual exemption of £ 3000; Mining income and cryptocurrency salary income are subject to income tax and national insurance. In the European Union, tax rates vary by country, for example, Germany exempts holders from taxes for more than one year, while Spain's tax rate is as high as 28%; The MiCA regulations that will come into effect in 2025 will unify some rules and enhance tax transparency.