Cryptocurrencies may soon be subject to taxation requirements in Portugal following recent comments made in the nation’s parliament
The Portuguese Minister of Finance says the move would be in line with many other countries who already have such regulations in place.
Portugal was previously considered a tax haven for crypto investors, with the nation boasting an effective capital gains rate of zero.
Experts are now convinced the government will move forward with the taxation changes, and believe the new policy will include a capital gains tax.
It remains unclear how the practices of staking or yield farming will be affected.
It follows the Australian government warning investors need to report capital gains and losses on crypto each year.
The UK and the U.S. have also recently introduced similar tax requirements for digital currencies.
