KENYA SETS PRECEDENT FOR CRYPTO TAXATION

The whole world of crypto is a murky legal land sometimes, having its cons and pros.

So for those investors and businesses who used distrust in crypto to avoid paying crypto taxes this is a precedent news piece.

The Capital Markets (Amendment) Bill, 2022 would allow for the taxation of crypto exchanges, digital wallets and transactions. Crypto investors in Kenya would have to pay capital gains tax to the Kenya Revenue Authority when they sell or use their crypto in a transaction. The bill would also require investors to inform the Capital Markets Authority – the government’s financial regulator – on the details of their crypto ownership.

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SOURCE: 
https://www.coindesk.com/policy/2022/11/21/kenya-proposes-bill-to-tax-crypto/