Do you have to pay tax on cryptocurrency Ireland? Irish resident individuals selling cryptocurrency
If an Irish resident individual sells a crypto asset at a profit, any gain would typically be treated a capital gain and subject to capital gains tax (currently 33%). If the individual incurs a loss on the sale, that would typically be treated as a capital loss.
Is it legal to do crypto mining? You may want to look into local regulations where you live, but for now, bitcoin mining is legal in the U.S. and most other countries, but not all U.S. states allow it.
Is crypto mining profitable in Ireland? Whether Bitcoin mining is profitable depends on the situation, but for most people the answer will be no. The cost of the electricity consumed, and constantly rising total network hashrates, ensure that the average person will lose money trying to mine Bitcoin.
Where is crypto mining banned? New York just passed a bill cracking down on bitcoin mining — here’s everything that’s in it. Lawmakers in New York just passed a bill to ban certain bitcoin mining operations that run on carbon-based power sources. The measure now heads to the desk of Governor Kathy Hochul, who could sign it into law or veto it.