Albanian authorities are planning to introduce taxation on income from investments in cryptocurrencies from 2023.

According to local media, the government has prepared appropriate changes to the legislation. At this stage, they are at the stage of public discussions.

According to the proposed changes, virtual assets are defined as “a digital representation of value that can be deposited, sold or transferred digitally and used as a means of payment, investment or exchange”. Not included in this category CBDC.

Also, Albanian authorities have proposed to define mining as an activity that uses computing power to confirm transactions and receive virtual assets in return.

Individuals will be required to pay 15% capital gains tax. At the same time, any income from cryptocurrency transactions or mining generated as a result of entrepreneurial activity will be classified as business income and will be subject to appropriate taxes.

The developed regulatory norms are planned to be adopted this year.

It was previously reported that the European Parliament, the European Commission and the European Council will hold a final meeting on the bill on the regulation of cryptocurrencies on June 30.

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