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Here’s What Collectors Need To Know About NFTs And Taxes
As authorities attempt to issue uniform guidance on taxing NFTs, collectors, art institutions, and anyone who’s bought, sold or issued NFTs are finding themselves caught in a regulatory quagmire.
That’s because taxing NFTs, unlike cryptocurrencies, is much less straightforward, with the issues of transfer of Intellectual Property rights, identity, and location central to the regulations.
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