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Chinese Official Newspaper Asks Government to Impose Taxes on Cryptos

News Snapshot:

China Tax News, an official Chinese tax newspaper, has called the Chinese government to impose taxes on cryptocurrencies despite the ongoing nationwide ban on digital assets. However, according to Colin Wu , a Chinese journalist who first hinted at the news, if that scenario materializes, it would give cryptos indirect legalization despite the crackdown. “China’s tax official newspaper called for a tax on crypto and said that the exchange’s taxation scale was very large. But since the PBOC defines all of the crypto activities as illegal activities, taxation seems to indirectly recognize their legalization,” Wu said in a tweet. The…

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