Europe’s Most Crypto-Friendly Country Makes Sudden U-Turn
Cryptocurrency gains will be taxed in Portugal, which is considered to be the most crypto-friendly country in Europe.
The country has now made a U-turn by including a provision in its proposed budget that taxes gains on cryptocurrency purchases held for less than a year. In the case of cryptocurrency taxes held for a long period of time, no tax will be imposed.
At the moment, the draft budget has not been approved by parliament.
When it comes to taxing cryptocurrency gains, Portugal claims it is now on the same page as the rest of Europe.
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