Justin Sun: China Embraces Crypto as Reports of 20% Tax Surface By Coin Edition

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Justin Sun: China Embraces Crypto as Reports of 20% Tax Surface

Published Jan 30, 2023 05:05 Updated Jan 30, 2023 05:15

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Justin Sun: China Embraces Crypto as Reports of 20% Tax Surface

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Justin Sun says China is embracing cryptos following reports of taxation on digital asset.

According to Sun, Chinese regulators will further regulate the industry.

China’s tax and banking authorities still have varying opinions on crypto.

Following reports from last week that China has implemented a tax on cryptocurrency transactions, Justin Sun, crypto entrepreneur and founder of the Tron cryptocurrency, said, “This signals the country’s increasing embrace of cryptocurrencies.” According to Sun, the new tax directly hints that regulators in China view cryptos as a “legitimate form of wealth.”

China has taken a big step towards cryptocurrency regulation with the implementation of a tax on crypto transactions. This signals the country's increasing embrace of cryptocurrencies.
— H.E. Justin Sun

The post Justin Sun: China Embraces Crypto as Reports of 20% Tax Surface appeared first on Coin Edition.

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