The Binance blog published an article on crypto tax policy, listing the general principles for formulating good tax policies for the crypto asset industry, including: introducing a cryptocurrency-specific framework, providing detailed and technically precise rules or guidelines, levying taxes and introducing cryptocurrency reporting obligations that are consistent with similar industries (such as finance and technology) rather than more complex, imposing a privilege tax on realized capital gains rather than a transaction tax, and promoting attractive policies.
In contrast, tax policies that stifle crypto innovation include: taxing the total amount of crypto transactions (such as Indonesia and India), imposing withholding tax obligations on intermediaries such as crypto trading platforms to enforce compliance, and domestic tax policies that are inconsistent with international standards.