HomeUncategorizedBefore ETH drops further, set some money aside for surprise taxes By Cointelegraph

Before ETH drops further, set some money aside for surprise taxes By Cointelegraph

October 20, 2022

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Before ETH drops further, set some money aside for surprise taxes

Ethereum’s Merge dominated the crypto world in September with promises of quicker transaction times, improved security and a 99% reduction in energy consumption. However, will you end up with a surprise tax bill too? Let’s examine.

During the Merge event, the mainnet — the then current proof-of-work (PoW) blockchain — merged with the proof-of-stake (PoS) Beacon Chain, marking the end of PoW as the consensus mechanism for the Ethereum blockchain.

Tony Dhanjal serves as the head of tax strategy at Koinly and is its PR and brand ambassador. He is a qualified accountant and tax professional with more than 20 years of experience spanning across industries within companies and public practice.

Continue Reading on Coin Telegraph

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Before ETH drops further, set some money aside for surprise taxes

Ethereum’s Merge dominated the crypto world in September with promises of quicker transaction times, improved security and a 99% reduction in energy consumption. However, will you end up with a surprise tax bill too? Let’s examine.

During the Merge event, the mainnet — the then current proof-of-work (PoW) blockchain — merged with the proof-of-stake (PoS) Beacon Chain, marking the end of PoW as the consensus mechanism for the Ethereum blockchain.

Tony Dhanjal serves as the head of tax strategy at Koinly and is its PR and brand ambassador. He is a qualified accountant and tax professional with more than 20 years of experience spanning across industries within companies and public practice.

Continue Reading on Coin Telegraph

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