Austria to Tax Crypto Like Stocks and Bonds: Report

Austria’s Federal Ministry of Finance hopes to boost confidence in cryptocurrencies by taxing them like mainstream stock and bond investments, according to a Bloomberg story.

Starting next March, Austria is planning to apply a 27.5% capital gains levy on digital currencies, including bitcoin and ether.

The initiative will be part of a nationwide tax overhaul.

Austria called its model the first of its kind and said streamlining conditions between asset classes would be fairer for investors.

“We are taking a step in the direction of equal treatment, to reduce mistrust and prejudice toward new technologies,” the Finance Ministry said Tuesday in a statement cited by Bloomberg.