While many refer to crypto as the “Wild West,” some believe that this may only continue for a little longer. Thomas Shea, crypto tax leader at EY Financial Services, told Cointelegraph that taxation for crypto is an evolving area and new regulations may be implemented soon. “There is new legislation that will require reporting for at least some crypto transactions and when those rules go into effect there will be significant changes,” says Shea. The EY executive notes that with the increased popularity of crypto, lawmakers are continuously exploring how…
Tax expert says buying crypto is not a taxable event
