$ 21,392.73
$ 1,701.10
$ 1.00
$ 0.467767
$ 0.340783
$ 1.00

Starting Next Year, Albania Will Tax Cryptocurrency Revenues

Bleta. M
On June 24th, it was reported that per a draft law, Albania will begin taxing cryptocurrency revenue starting next year.

On June 24th, it was reported that per a draft law, Albania will begin taxing cryptocurrency revenue starting next year.

As per the report, questions and worries have risen up about whether Albania can adequately control cryptocurrency, seeing as how it has struggled to do with fiat currency, and prevent it from being used for money laundering.

This draft law contains the first definition of what a virtual asset is in Albania, however, the law is still currently undergoing public consultation and it proposes the notion of taxing crypto and virtual asset profits.

The draft defines cryptocurrency as a digital representation of a value that may be deposited, traded, or transmitted in digital form and utilized for payment, investment, or exchange, including but not limited to cryptocurrencies.

According to the report, with varied tax rates based on the nature and magnitude, all revenue obtained from business transactions or mining will be considered as income from business under the new law. Individuals, with the exception of dividends, will be subject to a 15% investment income tax.

Also read:

Related News

Ethereum’s Last Test Run Before the Biggest Crypto Event is Over.

The last practice run for Ethereum’s long-awaited update, which has been touted as one of the most significant events in the history of cryptocurrencies, was just completed.  The so-called proof-of-work technique has been used for mining Ethereum since the cryptocurrency was launched about a decade ago. It needs an excessive amount of energy as well as the solving of difficult mathematical problems by an enormous number of competing machines. The

Read More »

More trouble for Coinbase as the US Supreme Court rejects its appeal

The SEC is investigating Coinbase, the largest cryptocurrency exchange in the US, for allegedly listing securities on its platform. The Supreme Court’s denial of the exchange’s plea has caused yet another major problem. According to Bloomberg, the US Supreme Court rejected Coinbase’s request to submit its user disagreement to arbitration right now. It was said that the court’s request for the justices to intervene in the case was rejected. The

Read More »

Hodlnaut Has Become the Latest Crypto Lender Platform to Block Withdrawals

The cryptocurrency lending platform Hodlnaut, which is headquartered in Singapore, has halted withdrawals, token swaps, and deposits, blaming “current market circumstances.” This makes Hodlnaut the latest in a series of cryptocurrency companies to go out of business since May. According to the notice made on Monday, the business also stated that it will revoke its registration with the Monetary Authority of Singapore (MAS) to provide digital token payment services. According

Read More »

My Coins

$ 21,392.738.18%
$ 1,701.108.81%
$ 0.46776711.53%
$ 1.000.02%

Newest Videos on YouTube

We inform and educate people about Cryptocurrencies and Blockchain technology.

© Copyright 2021, All Rights Reserved,
Crypto Academy


Contact Us

For any question conatct us through:

[email protected]

Disclaimer: All information and materials on this website are for educational purposes only. does not provide any form of financial advice. Cryptocurrencies are highly volatile, therefore any form of investing carries a high level of risk to your capital. It is recommended that you seek professional advice prior to implementing any investment or financial plan.

We do not ask you for your Cryptocurrency / We do not hold your Coins / We do not ask for Private Keys / Be aware of scammers and imposters.

Contact us only through: [email protected]