So far this year, this has undoubtedly been the best week for the cryptocurrency market, this if we consider that the Bitcoin is starting to rise from its last fall and at the time of writing this publication its price stood at just over $41,400.
The truth is that Bitcoin along with the rest of the alternative cryptocurrencies seem to replicate the rise of stocks by reaching higher prices so far in 2022, an element that generates optimism among retail cryptocurrency investors.
Now, in addition to the fact that this week served to extend strong gains, as cryptocurrencies benefited from the recovery of risk appetite and the rebound of stock markets, to this reality we can add two probably positive news for the crypto market, such as the measures adopted by India and Venezuela to start charging taxes on cryptocurrencies.
Specifically in India, profits obtained in cryptocurrencies will be taxed at 30%, a fact that has been interpreted from several points of view as a step towards the legalization of cryptocurrencies in the country, however, the official approval of the state is still missing.
In the case of Venezuela it is already a fact that transactions with cryptocurrencies other than the Petro (official cryptocurrency) will be taxed, according to the announcement made by the National Assembly, the main legislative power in the country, it is established that the tax will be from 0% to 2% for transactions executed in bolivars.
And in a range of 2% to 8% for those transactions made in foreign currencies or cryptoassets not issued by the State (Petro), within the national banking system, and 2% to 20% for transactions made in dollars or cryptocurrencies outside the Venezuelan banking system.
A point in favor of charging taxes on digital assets is to give an approval and approval to the crypto market, a positive element for the consolidation of financial structures that run on the blockchain.
OBSERVATION:
The cover image was designed by the author: @lupafilotaxia, incorporating image: Source: quora
