Warren Buffet Changes Tune While G20 Politicians Work on Crypto Taxes

 In Cryptocurriencies, G20, Policy, Regulations

Known for referring to bitcoin as ‘rat poison,’ there is now speculation that famed investor Warren Buffet may be changing his tune. Buffet’s firm Berkshire Hathway has made quiet but substantial investments in fintech firms engaged in the crypto industry.
https://www.newsbtc.com/2018/10/31/has-warren-buffett-made-a-u-turn-on-crypto-investments/

Meanwhile…

G20 politicians signal intention to work on a solution for cryptocurrency taxes.

As published in Bitcoin Magazine, G20 leaders at their recent meeting in Argentina are eager to battle both money laundering and fraud in the financial market and are looking to imprint stronger regulatory tactics on both cryptocurrency and blockchain businesses. Full article linked here.

“We will regulate crypto-assets for anti-money laundering and countering the financing of terrorism in line with FATF [Financial Action Task Force] standards and we will consider other responses as needed,” a summary of the summit reads.

The G20 is also exploring

  • the extradition of individuals responsible for stealing assets to regions where the offenses took place.

And endorsing

  • the G20 Financial Inclusion Policy guide, which seeks to provide voluntary policy recommendations to countries and organizations looking to facilitate digital financial services.

And working on

  • a “globally fair, sustainable and modern international tax system” based on tax treaties and transfer pricing rules.

And encouraging

  • governing bodies, both national and abroad, to clarify present tax laws surrounding crypto assets and relative trades.

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