Changpeng Zhao, the CEO of Binance, recommended a flat 1.2% trading tax on LUNC trades that could be burned to reduce the token’s total supply and improve its price performance.
The country began seizing crypto to offset tax arrears last year.
The Colorado Department of Revenue offers tax payment through the PayPal Cryptocurrency Hub for personal taxes; businesses are not eligible yet.
Crypto analytics firm Coincub has released crypto tax rankings, pointing out the worst and the best countries regarding crypto taxation.
The public has been provided with 25 days to share their opinion on the proposed legislation.
The law enforcers like the IRS and FBI track Bitcoin with blockchain data and collaborate with private companies in an attempt to trace criminals and taxes.