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Crypto tax in Federated States of Micronesia

Crypto in Federated States of Micronesia is unclear / unsettled.

Micronesia has a low, simple personal income tax (6–10%) but there is no official guidance yet on how cryptocurrency gains by individuals are treated, so you should assume they could be taxed as ordinary income until the tax authority clarifies.

“§ 202. Tax imposed. There shall be imposed, levied, collected, and paid for each taxable year upon the taxable income of every individual a tax of 6 percent on the first $11,000 of taxable income and 10 percent on all taxable income in excess of $11,000.” — Federated States of Micronesia – Code of Laws, Title 54 (Taxation and Customs)

Reflects the treatment of an individual's crypto disposals. Estimate — confirm against the linked source. See methodology.