FTX Bankruptcy In Taiwan Caused About 500,000 Victims

The bankruptcy of cryptocurrency platform FTX has caused a shock in the currency market. An estimated 500,000 people in Taiwan lost their investments. The fact that money remains in the exchange makes it difficult for users to worry about its decline in value. According to Su Jianrong, the Finance Minister, the possibility of a loss deduction is possible if income is declared. However, the bigger problem is that funds remain in the FTX exchange. The possibility of cryptocurrency’s value dropping due to market shocks is a concern. However, Taiwanese users can not report this loss as income tax through the “cash” system. The key to income tax is whether the loss was “realized”. If the public acknowledges that a loss was realized, then a transaction loss can be classified as an overseas property transaction loss. If the public admits that a loss has been realized, then once a transaction loss is determined as a loss of overseas property transactions. We encourage you to do your own research before investing.Join us to keep track of news: coincu.comFoxyCoinCu NewsTags: # Cryptocurrencies#Markets#TaiwanbankruptcyBlockchaincryptoFTXlossvictimswithdrawals