Banks had feared being drained of liquidity under the original concept for the digital currency.
Local firm Bitcoin Suisse has partnered with the canton of Zug, converting cryptocurrency tax payments into Swiss francs.
Cryptocurrency exchange Binance’s in-house BNB tokens have shot to a $40 billion valuation, ranking them third among digital assets behind bitcoin and Ethereum’s ether.
The bill proposes to recognize cryptocurrency as property for purposes of taxation.
A senior Finance Ministry official told a newspaper that taxation does not necessarily imply legality.
If passed the bill would amend tax laws to recognize digital currencies as a form of property.
“We are at all-time-highs territory [and] the market still has to make up its mind” about next resistance or supporting levels, says one broker.
ByteTree’s Charlie Morris shows how bitcoin’s price gets to $1 million by 2032. PLUS: JPMorgan hounded by own traders over absence in bitcoin market.
U.S. bitcoiners can now make tax-exempt donations to fund Bitcoin development.
Out of 31 nations, only 5 have tax guidance addressing cryptocurrency rewards via staking, a study found.