Selected Cryptocurrency Returns and Capital Gains Tax - Based on the Example of Countries with Varying Degrees of Legal Regulations Concerning Cryptocurrencies

Agata Gniadkowska-Szymańska; Bojana Olgić Draženović; Stella Suljic Nikolaj

doi:10.18778/2391-6478.3.35.04

Authors

Agata Gniadkowska-Szymańska University of Lodz, Faculty of Economics and Sociology https://orcid.org/0000-0002-7321-3360
Bojana Olgić Draženović University of Rijeka, Faculty of Economics and Business https://orcid.org/0000-0002-5175-7439
Stella Suljic Nikolaj University of Rijeka, Faculty of Economics and Business https://orcid.org/0000-0002-0435-4047

DOI:

https://doi.org/10.18778/2391-6478.3.35.04

Keywords:

taxes, cryptocurrency, regulation, capital gains tax, bitcoin, ETC

Abstract

The purpose of the article/hypothesis: The purpose of this article is to present the impact of capital gains tax on the returns of the two most popular cryptocurrencies: BITCOIN and Ethereum Classic (ETC).

Methodology: In this study, the rates of return on selected cryptocurrencies were proposed as a variable that may be affected by taxes on capital gains. The article presents a new approach to the analysis of issues related to cryptocurrencies.

Results of the research: The results show that for selected countries (Hungary, Italy, Poland, the USA) there is a correlation between the tax rate on capital gains and the return on ETC. In the case of BITCON, however, there is no such a relationship.

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