Having digested the new #IRS regime for #cryptoassets of the #OE2023 proposal, here are some notes:
● the definition of #cryptoactive seems to meet the standardizing position of the #MiCA regulation
● however, it seems to cover any type of cryptoassets, including #stablecoins (#assetreferencedtokens) and even non-fungible cryptoassets (#NFTs)
● Onerous disposal of stablecoins such as #Tether (#USDT) or #Binance (#BUSD) through a fiat currency exchange operation generates insignificant added value?
● what is the moment of birth of the tax obligation in transactions related to (issuance or not) of crypto-assets? In practical terms, it seems to be at the time of the exchange for fiat currency still on the platform, and not when the gains obtained in crypto-assets are available on the respective platform, after being released by the operation that generated them (?)
● is it possible to include the exchange of crypto-assets in the concept of onerous alienation? converting crypto-assets to other crypto-assets seems to constitute daily operations, of private wealth management (?)
● how to keep records of all conversions? most platforms still do not provide official extracts (#Binance provides tamper-proof extracts in excel files…)
● there is no concept of #mining in PT, strictly speaking, does #mining include “the validation of crypto-asset transactions through consensus mechanisms”? Does the legislator intend to include #staking activity with this part?
● “operations related to the issuance of cryptocurrencies” seems to encompass #airdrop (casual, fortuitous and passive activity), and does not include #trading activity, which seems to continue to fall under category B, cf. binding information from AT (proc. no. 5717/2015)
● by nature, #stakingonchain (assets) falling into category B and #stakingoffchain (liabilities) falling into category E?
● Same goes for #miningapps #lending #yieldfarming and #NFTstaking that fall into category E?
● distinguish between staking and #securitytokens, especially with regard to #equitytokens/ #governancetokens – earnings fall into category E?
● exchange of NFTs is an onerous sale? child exchanges digital collectibles (#digital art or game tools in #NFT) with another child, in an online game – taxable event or mere act of managing private assets? Parents of the child (lay people) obliged to register movements and include earnings in the household?
● in the usual activity aimed at obtaining profits from the production and sale of NFTs (original holder, with #copyright) or purchase and resale (other holders), gains obtained via #smartcontracts (#royalties/commissions) that can be classified as income from # category B intellectual property?
● earnings from NFTs/#assetbackedtokens representative of #digitalrealestate (in the #metaverse) fall into category G? and the gains from #leasing via digital real estate?
● increasingly complex and time-consuming case-by-case analysis
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