Liecthenstein topped a PwC ranking, while Malta and Australia, tied for second, and Germany completed the podium.

Liechtenstein has obtained the best score in a global PwC ranking that rates the degree of completeness of the tax guidelines for cryptocurrencies in each country.

PwC's crypto tax rate

Australia and Malta came in second, followed by Germany, which dropped from 20th last year due in part to the country’s draft decree on the tax treatment of digital assets, according to the PwC report. The United States ranked 14th.

urisdictions received a score derived from 19 evaluation criteria to determine the completeness of their tax guidance. The report also noted that many countries were struggling to keep up with developments like decentralized finance, DeFi, and non-fungible tokens, or NFTs.

This “is a rapidly evolving sector and there are significant areas with gaps in the guidance issued,” said Peter Brewin, a tax partner at PwC Hong Kong. “In particular, there is a lack of guidance for common DeFi transactions, NFTs and how to even begin to assess the taxation of Decentralized Autonomous Organizations (DAOs).

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