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FINANCIAL SECTOR CONDUCT AUTHORITYFINANCIAL ADVISORY AND INTERMEDIARY SERVICES ACT, 2002 (FANS ACT)GUIDELINES ON COMPLETION OF SPREADSHEET Version: 5 DATE: 28 May 2018Background This is a guideline
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Gather all necessary information about your crypto assets, including the type of assets, quantity, and value.
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Who needs crypto assets now recognised?
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Individuals who own crypto assets and are required by law to report them for tax or regulatory purposes.
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Financial institutions and government agencies that oversee transactions involving crypto assets and need to ensure compliance with regulations.
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What is crypto assets now recognised?
Crypto assets now recognised as a form of digital currency or virtual asset.
Who is required to file crypto assets now recognised?
Any individual or entity who holds or trades crypto assets is required to file.
How to fill out crypto assets now recognised?
Crypto assets can be reported on a tax return or through a specific reporting form provided by tax authorities.
What is the purpose of crypto assets now recognised?
The purpose of recognising crypto assets is to regulate and monitor the use of digital currencies for tax purposes.
What information must be reported on crypto assets now recognised?
Information such as the amount of crypto assets held, traded, and any capital gains or losses must be reported.
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