“Being able to wrap tokens is a valuable and necessary cross-chain interoperability tool,” said Michael Bacina, Digital Assets lawyer at Piper Alderman Lawyers. “To have a purely technological function triggering a tax event and tax payable is not something users would expect when using crypto-assets.”
Related posts
-
Kraken Launches Licensed Broker Offering for Australian Wholesale Clients, Expanding Access to Crypto-Based Derivatives
Kraken has announced the launch of a licensed broker... -
Monetary Authority of Singapore Pushes New Measures to Advance Tokenization
“MAS has seen strong interest in asset tokenization in recent years, notably in fixed income, FX,... -
Latam Insights: Salvadoran Bitcoin Visa Program Fails; Brazil Floats Tax on Stablecoin Remittances
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news from...