Belgian crypto investors are currently no longer comfortable in the state, as they are currently being hunted by the county Special Tax Inspectorate (STI).
Cryptocurrency investments have attracted the attention of tax authorities in Belgium. Several investigations have been opened into cases of Belgian citizens who have traded on foreign exchanges. Anyone speculating on crypto markets is expected to pay 33% tax on their gains, despite the fact that bitcoin and the like are not regulated or legalized in the country.
The Special Tax Inspectorate (STI) is currently studying at least three different cases of Belgian investments in cryptocurrencies.
Just because of the growing popularity of Cryptocurrency in the State, The Minister of Justice Koen Geens said that they should be subject to stricter rules.
“Crime prevention and regulations should evolve with new technologies”, Geens tweeted in 2017
Koen Geens proposed the regulation of all digital currency transactions. The minister received support from the country’s tax authority, which admitted the number of ordinary Belgians interested in cryptocurrencies was growing, too.
Although the fact still remains that cryptocurrencies are neither legal, nor illegal in Belgium. Brussels has not announced a comprehensive policy yet, despite comments and warnings from some officials.
Taxation without legalization and still the government still want tax?
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