Authorities in Albania aim to introduce taxation on income from cryptocurrency investments from 2023.<\/p>\n
Local media report that the government has prepared amendments to the legislation. They are at the public-consultation stage.<\/p>\n
Under the proposed changes, virtual assets are defined as \u201ca digital representation of value that can be deposited, sold or transferred digitally and used for payments, investments, or as a medium of exchange.\u201d This category will not include CBDC<\/span>.<\/p>\n The Albanian authorities also proposed defining mining as an activity that uses computing power to confirm transactions in exchange for virtual assets.<\/p>\n Individuals would be required to pay a 15% capital gains tax. At the same time, any income from cryptocurrency transactions or mining earned through business activity will be classified as business income and taxed accordingly.<\/p>\n The regulatory norms are planned to be adopted this year.<\/p>\n Earlier reports said that the European Parliament, the European Commission and the Council of the EU would hold a final meeting on the issues surrounding the cryptocurrency regulation bill<\/a> on June 30.<\/p>\n