Crypto Tax Issues (facilitated by Jon Van Loo, Scale LLP; Stanford Law School)

Tax agencies across the world have been proactively introducing regulations on taxation of digital assets and required information disclosures. In the US, the IRS taxes virtual currencies as property and now requires heightened information disclosures on receipt of virtual currencies above a prescribed threshold. India has introduced a 30% capital gains tax on transactions of virtual digital assets and South Korea has suggested imposing a gift tax on crypto ‘airdrops.’ At the same time, individuals have raised concerns regarding their privacy rights and the industry is concerned about the adverse impact of taxation on future growth. This session will explore how different jurisdictions are approaching digital assets for tax purposes, and whether any best practices or areas of consensus have emerged.