Less than 1% of crypto investors pay taxes

Research: Less than 1% of Crypto Investors Pay Taxes

A new study from Swedish technology company Divly has found that less than 1% of crypto investors pay taxes on their investments by 2022. Specifically, the study has shown that only 0.53% of crypto investors are taxable.

The Global Cryptocurrency Tax Report 2022 measures tax trends for the crypto industry in various countries. Furthermore, it shows the minimum percentage of crypto investors who have declared their assets to the tax authorities.

Most Crypto Investors Don’t Pay Taxes in 2022

Current legal issues related to the crypto industry have come up a lot this year. Moreover, when the collapse of the floor FTX caused a terrible disaster in 2022, causing many companies to go bankrupt and investors to lose money. This forced governing bodies enacted many measures to crack down on cryptocurrencies in the modern financial sector. In contrast, a recent study pointed to another problem among crypto investors and their taxes.

Specifically, a study from Swedish technology company Divly states that “less than 1% of crypto investors paid taxes on their crypto investments by 2022.” Additionally, the study is looking to look at global crypto investors to see if they have declared their crypto assets to tax authorities.

As a result, the study shows that global crypto tax compliance is only 0.53%. In addition, Divly’s research also shows that different regional countries have different percentages of crypto tax payment. Specifically, North America has a tax compliance level of 1.62%, mComparatively, while Asia has a compliance rate of 0.20%.

In contrast, the study notes that tax rates are also related to investor group size. FinalDivly concluded the US is the country with the most crypto taxpayers in the world.

See also: Cryptocurrencies take center stage in Türkiye amid economic uncertainty

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