Despite the recent “Crypto Winter,” digital assets continue to gain in popularity and adoption. While many cynics have predicted a downfall, it seems the nascent industry is continuing on its growth trajectory — and at the same time, consumer protections and clear tax rules are lacking.
Governments around the world are attempting to create and implement regulations around crypto trading, tax collection and consumer protection. While the rules governing traditional finance, or “TradFi” are similar in most developed countries, the same cannot be said for digital assets. For instance, cryptocoins are illegal in certain countries, including China and Saudi Arabia, while in the U.S., rules vary by state.
