Crypto Community Reacts to MetaMask Updated Policy on Tax Obligations
CoinEdition
Published May 21, 2023 09:30AM ET
Updated May 21, 2023 12:30PM ET
Crypto Community Reacts to MetaMask Updated Policy on Tax Obligations
- MetaMask policy stirs the crypto community as it sparks fears for decentralization.
- MetaMask stated that it reserves the right to withhold taxes where required.
- A TEDx speaker argued MetaMask included the controversial line to satisfy Apple (NASDAQ:AAPL).
In a recent turn of events, MetaMask, one of the leading crypto wallets, announced a new update to its terms and policies that has stirred up a storm within the crypto community.
A tweet by a crypto enthusiast sparked concerns about the implications of MetaMask’s latest policy, suggesting that it may undermine decentralization while also imposing tax obligations on its users.
“Metamask new update in terms and policy will withhold your taxes; decentralization is dying,” the tweet read. It quickly grabbed the attention of crypto enthusiasts and industry insiders, leading to a closer examination of MetaMask’s updated terms and policies.
Notably, the company did not specify what countries or jurisdictions would be subject to the new policy; nonetheless, it would likely apply to users in countries with capital gains taxes on crypto transactions.
The post Crypto Community Reacts to MetaMask Updated Policy on Tax Obligations appeared first on Coin Edition.
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