Kenya Proposes Tax System Integrated with Crypto Exchange Data for Real-Time Monitoring of Crypto Transactions
On October 18, the Kenya Revenue Authority (KRA) proposed a tax system integrated with cryptocurrency trading platforms to enable real-time monitoring of transactions. Under the system, the KRA would capture key information about each transaction, such as the time and value of the transaction.
The tax department said that the current system is unable to track cryptocurrency transactions, leading to a significant loss of tax revenue. (Bitcoin.com)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Turkmenistan passes crypto asset regulation bill, to take effect on January 1 next year
CME: BrokerTec U.S. active markets have resumed trading
CME: All markets remain suspended except for the BrokerTec EU market
A major whale switched from short to long on BTC, with a position valued at $91 million.
Trending news
MoreCrypto prices
More
