Research: 99% of cryptocurrency owners evade taxes

Researchers at crypto tax company Divly have found out how many cryptocurrency investors actually pay taxes. According to the «Global Cryptocurrency Taxation Report 2022» published on April 5, 99.47% of digital asset owners are evading taxes.

«We estimate that in 2022, only 0.53% of cryptocurrency investors declared their cryptocurrency activities and paid taxes,» Divly researchers emphasized.

Such a low level of cryptocurrency tax payments worldwide is the result of many factors. Divly emphasized that public awareness of cryptocurrency reporting requirements is often unclear to most users.

The company also noted that the higher rates of crypto tax payment recorded in Japan and Germany may be the result of increased government regulation, increased availability of tax calculators and other services. Analysts emphasized that the global desire to introduce clearer tax rules could lead to a significant increase in cryptocurrency tax payments as early as 2023.

As for the US government’s attitude to cryptocurrencies, the editorial board of the crypto portal CoinDesk, commenting on the recent actions of the federal government, suggested that the US authorities and regulators are seeking to completely destroy the cryptocurrency industry in the country rather than regulate it. «The editorial board believes that the existential threats faced by the US cryptocurrency industry due to recent government actions are sufficient to take a stand,» CoinDesk said. The conclusions were prompted by a series of actions by the Securities and Exchange Commission (SEC) against regulated US crypto companies, including Kraken and Coinbase, as well as the commencement of legal action by the Commodity Futures Trading Commission (CFTC) against Binance.