What are the tax implications of owning or trading cryptocurrency?

The tax implications of owning or trading cryptocurrency depend on which country you are in, as taxation varies widely. Generally, capital gains taxes may be applicable for any profits resulting from cryptocurrency investment or trading, depending on the regulations of the particular country. Other taxes, such as income taxes and VAT, may also be applicable depending on the country as well. It is important to research the taxation rules of the particular country beforehand to understand the exact implications of trading or investing in cryptocurrencies.