Austria’s Federal Ministry of Finance hopes to boost confidence in cryptocurrencies by taxing them like mainstream stock and bond investments, according to a Bloomberg story.
- Starting next March, Austria will apply a 27.5% capital gains levy on digital currencies, including bitcoin and ether.
- The initiative will be part of a nationwide tax overhaul.
- Austria called its model the first of its kind and said streamlining conditions between asset classes would be fairer for investors.
- “We are taking a step in the direction of equal treatment, to reduce mistrust and prejudice toward new technologies,” the Finance Ministry said Tuesday in a statement cited by Bloomberg.
Read more: House Sends Infrastructure Bill With Crypto Tax Provision to US President
