Developing and low-income countries might have to choose between maximising revenue at the cost of reducing their ability to offer tax incentives to boost investment.
As more officials with knowledge of cryptocurrency come into positions of regulatory power, tax authorities are expected to introduce stronger regulation of cryptocurrencies.
The US loses $1 trillion dollars to tax evasion every year and the Internal Revenue Service (IRS) points to the rise of NFTs and cryptocurrencies as a key factor. However, cryptocurrency experts disagree.
