Just-In: European Parliament Votes For Crypto Tax System

The European Parliament has voted in favour of a more coordinated and fair taxation system for cryptocurrencies, and to utilize blockchain technology in facilitating a more robust approach towards mitigating instances of tax evasion.

Over 80% Members of the European Parliament vote in favor of resolution

The resolution which was drafted by MEP Lídia Pereira saw a favorable reception from the house, as over 80% of the Members of the European Parliament (MEPs) voted in its favor. Out of the 705 MEPs, only 7 voted against the resolution, with 47 absent, and 566 voting in favor of it.

The European Parliament revealed the development through a press release Tuesday. The resolution makes a definite response to the area of taxation when it concerns the cryptocurrency industry across EU states. It notes that cryptocurrencies should be subjected to a fair and transparent taxing system.

Additionally, the resolution makes