Canada Adopts International Crypto Tax Reporting Standard
Canada is aimed at having the OECD standard for crypto asset tax reporting in place by 2027, as agreed with 46 countries.
While the United States is exploring how and in which regions Bitcoin will be a regulated asset, the job listings in the cryptocurrency space seem to be scattered across the country with no singular hub or strong concentration of crypto careers in one state or region.
According to a study conducted by LinkedIn and published by Bloomberg, over 50% of jobs listed in 2021 in the United States are dispersed across the country. Taking keywords related to cryptocurrency, such as Bitcoin, Ethereum, crypto, blockchain and Solidity, the study’s data found that three regions led the space, but the majority (53%) of job opportunities were found dispersed across the country. New York and San Fransisco stood at the forefront, given New York’s position as a financial hub and San Francisco as the concentration of the country’s technology companies and startups. Los Angeles took third with Miami and Chicago following.
The cryptocurrency industry seems to be channelled mostly into mid-sized metropolitan areas across the country. Looking at the statistics, New York hires the most with an 18.3% market share with Austin, Texas only boasting a 2% market share. However, taking population into consideration, New York and Texas both hire an average of 2.8 people for every 100,000 people on LinkedIn. The count in regions with a denser population highlights that the metropolitan areas are more focused on cryptocurrency hires.
It’s extremely possible that there is no strong concentration of work opportunities in one or two regions in the United States because of a strong pull towards remote work in the space. According to Diogo Mónica, founder of crypto company Anchorage Digital, a remote approach to work in the cryptocurrency space benefits both the employee and the company. He offered that the decentralised structure lends itself to the nature of cryptocurrency work and it also means that cities and states with better taxes will attract those who operate in fully remote working styles:
“This means cities and states with lower taxes, great infrastructure, and quick access to an international airport will benefit from fully remote work.”
Canada is aimed at having the OECD standard for crypto asset tax reporting in place by 2027, as agreed with 46 countries.
Since the well-anticipated spot Bitcoin ETF event is over, some industry experts have turned to warning signals for the the road ahead.
Bitwise revealed that in the month after past BTC halving price saw a little movement but in the following year it saw significant gains.
The Blockchain for Good Alliance alliance is joined by numerous organisations including Bybit Web3, Solana Foundation, Moledao and others.