From taxes to electricity, blockchain adoption is growing in Austria
The blockchain technology landscape is shifting in Austria, with public institutions and private firms experimenting with the tech. Austria has been actively transforming into an attractive location for providers of blockchain-based products, with the government itself experimenting with the technology and trying to create a legal basis upon which companies can use it. With regard to blockchain-based applications in the economy, however, Austria is still in the experimental phase, with most firms still running pilot projects. Still, politicians and economists alike see potential for select....
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As a growing number of governments are looking to tap into crypto profits, authorities in Austria have indicated their intention to tax gains from digital asset investments just like those from stocks and bonds. The move is expected to increase trust and access to cryptocurrencies.
Austria to Apply Capital Gains Tax to Bitcoin, Make Crypto More Accessible
Claiming it aims for an equal treatment of investments in cryptocurrencies like bitcoin, the government in Vienna has announced it’s considering applying the same 27.5% levy to crypto assets it currently uses to tax....
With cryptocurrency adoption rapidly rising, more and more companies and institutions are offering Bitcoin and blockchain services. Austrian Post Office and Bitpanda partnership. In a new report, the Austrian post office, and the Bitcoin exchange Bitpanda partnered up together to offer Bitcoin, litecoin, ethereum and dash at 1,800 post branches all over Austria. Thanks to this partnership, customers will be able to safely and easily buy various cryptocurrencies with euros at all post branches in Austria. Initially, there will be a trial period for this service and users will be able to buy....
Austrian and German energy provider Switch has begun accepting Bitcoin for gas and electricity bill payments. In a press release and Facebook post Wednesday, Switch, which is wholly owned by EnergieAllianz Austria, said the move marked a first for Austrian energy customers. “With the introduction of cryptocurrency Bitcoin as a payment method in Austria we’re aiming to cater principally to digitally-aware customers and other interested parties,” CEO Christoph Schmidt said in the accompanying release. Billing literature can now also be issued in Bitcoin for those opting to use it for....
New amendments recently signed by the country’s president could bolster the energy grid refit while keeping overall prices relatively moderate. On July 11, the President of Kazakhstan, Kassym-Jomart Tokayev, signed new tax rates for crypto mining operators into law. While these amendments reflect the country’s growing frustration with the undertaxed and non-transparent usage of the national power grid by both foreign investors and domestic perpetrators, the new taxes could hardly be called excluding. Moreover, they could signal the further adoption and legalization of mining in energy-rich....
Electricity suppliers in the Russian region of Irkutsk have registered a surge in power consumption in residential areas which they are blaming on cryptocurrency mining. Planes with mining equipment from restricted China continue to land in the region, and cases of hardware theft have also increased significantly. Irkutsk Dealing With Rising Electricity Needs Amid Growing Popularity of Mining Companies ensuring electricity supplies in the Russian region of Irkutsk have reported a fourfold increase in consumption by the population in 2021 over the previous year, blaming amateur crypto....