STOCKHOLM — A recent study conducted by Swedish tech company Divly has shed light on the current state of crypto taxation worldwide. The Global Crypto Tax Report by Divly provides insights and findings on crypto taxation around the world, highlighting key trends and issues facing crypto investors and traders.

The report, based on a survey of 35 countries, covers a range of topics related to crypto taxation, including the legal status of cryptocurrencies, tax rates and rules, and the use of crypto for payment and remittance. One of the key findings of the report is that less than 1% of crypto investors paid taxes on their cryptocurrency in 2022.

The legal status of cryptocurrencies varies significantly worldwide, with some countries recognizing them as legal assets and subject to taxation, while others prohibit or restrict crypto trading and investment. In the US and Japan, cryptocurrencies are recognized as legal assets and subject to taxation, while in China and Russia, crypto trading and investment are largely prohibited.

Tax rates and rules for cryptocurrencies also vary considerably across countries. In the US, cryptocurrency is subject to a capital gains tax, with a top rate of 37%. In Germany, cryptocurrency is subject to a capital gains tax of up to 25%, while in France, the rate is 30%. In Denmark and Sweden, cryptocurrency gains are taxed as income, with rates of up to 55%.

Despite the challenges associated with crypto taxation, the report suggests that many investors and traders remain optimistic about crypto.

45% of respondents plan to increase their crypto holdings in the coming year.

The report also highlights the growing use of crypto for payment and remittance, with 49% of respondents reporting that they have used crypto for payment, particularly for cross-border transactions.

As adoption grows, understanding and navigating tax rules and regulations will become increasingly vital for investors and traders. By staying informed about the latest developments in crypto taxation, investors can make informed decisions and manage their tax liabilities in this exciting and dynamic market.

The recent Global Crypto Tax Report by Divly provides valuable insights into the complex and rapidly evolving world of crypto taxation.