Cryptocurrency Tax Rules Need More Clarity, EU Lawmakers Say

Too much remains unknown about crypto assets and crypto transactions to ensure they are taxed fairly, lawmakers on a European Union panel said.

In particular, a definition of the tax base for crypto assets in the European Union’s legal framework “is one of the core issues for tax policy,” they said in draft opinion approved Thursday by European Parliament’s economic and monetary affairs committee.

“A coherent definition of a taxable event needs to be found in order to ensure a proper level of taxation but avoid instances of double-taxation” of crypto assets, the opinion added.

For example, it’s unclear if ...