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By Raphaël LOUAGE, Tax Partner, MA and Mesut YILMAZ, Tax Senior, MA at Deloitte Luxembourg
2021 was a record-breaking year for cryptocurrencies, with many, including Bitcoin and Ethereum, reaching new market price highs. The total crypto market capitalization in 2021 reached a record US$3 trillion before dipping below US$1 trillion in June 2022.
According to a survey led by The Block*, roughly US$25.1 billion has been allocated in venture funding across 1,703 crypto deals. MA transactions for the digital assets also broke a record in 2021 with dollar volume increasing by 730% to US$6.1 billion year on year.
2021 was also a good year for the non-fungible tokens (NFT) sector which recorded a trading volume of...
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