Peter Varga in an interview in TA3 about regulation and taxes in NFT

NFTs are a multidisciplinary phenomenon in terms of even contemporary regulation. They reach even a much larger scope than virtual currencies, not only in the tax, but also in the legal and regulatory sphere. In an interview with TA3, Peter Varga provided a quick excursus into the basic thought inputs when grasping NFTs from a regulatory perspective.

You can watch the full video at this link.

We have been dealing with the topic of NFTs (and the whole crypto from a tax and legal perspective) quite intensively on our platform, not only in the commercial area of our legal, tax and accounting advice, but also by writing articles, for example through our Crypto Tax & Law platform, and by giving lectures. Our experience with crypto projects is relatively extensive and we also put a large part of our energy into informing about crypto law and tax. We are part of a working group of the Ministry of Finance and the Financial Administration, so we believe that this practical experience of ours will be useful for the state in further, especially more complex, legislative undertakings. The goal is mainly predictability and fairness in law and taxation.

In the field of NFT it is mainly the overall grasp of this phenomenon at least in the most basic interpretative features. However, the Slovak legislator cannot be objectively expected to fully take over this agenda in several aspects. These are mainly the limited human and professional capacity, the dynamic nature of the topic, but most importantly, the limited standard-setting competence (several topics fall within the competence of the EU). However, it is important to send at least an interpretative signal that will help all those working with NFTs to know in which legal and fiscal frameworks their activities are located and what can be expected from the state in the future. Last but not least, at least in the area of taxation, it is necessary to send an encouraging signal that the state wants to be fair and modern.

If you are interested in this topic, please do not hesitate to contact us.