Bitcoin Forum

The govs don't want common people to make money or escape from their poverty, so they are trying to hinder the crypto ecosystem in general.

For example we hear about crypto exchanges to be banned in some countries, or be heavily taxed so that the govs take significant earnings without doing nothing.

"Regulation" after all is just an extorsion: if you , Bitstamp (for example) , don't give me a good part of your earnings, you can't operate.
And the gov is not going to give any service in return, they just take their slice of the pie for nothing.

And at the end of the day it is not Bitstamp the one who is losing money due to "regulation".
We are.
Because Bitstamp and all regulated exchanges will be raising their fees due to the taxes and we are the ones who must pay the gov to keep the exchange alive.

What can we do to avoid this issue?

The solution that is gaining popularity are decentralized exchanges like Waves or Streamity  ,
which are good for crypto-only trading.

But what about FIAT deposits?
How do "decentralized FIAT deposits" work , if they exist?

i can think of 2 solutions to this problem:

- Use FIAT to buy GPUs, mine coins with them, then use the mined coins to trade on DEX (decentralized exchange) platforms

- Buy crypto with FIAT directly from other people, that you can meet in forums or online announcements, Localbitcoins.com and similar sites

Well i know it's more "comfortable" to just do a bank transfer to an exchange's account , but this will have a cost for you: the gov will know what you are doing with that money, how many coins you bought , etc., so they may tax you because they think you are making profit.

While if you buy GPUs they cannot assume you are mining. You say you are just playing video games.
So your earnings are anonymous.
They don't even know you bought GPUs if you buy them at local shops with cash.

Being anonymous is worth the struggle even if it takes a bit of "discomfort" , as you are going to avoid a lot of nuasances.

I know your not openly suggesting tax evasion are you now? If you are saying they are taxing us unfairly well welcome to the real world where shit isn't fair. We all are aware of that, but how would anybody prevent getting taxed? They will throw your ass in jail right away :-\.

Right now if an exchange wants to stay in business they need to comply to regulations.

Even if there is an exchange that is completely anonymous, would you trust your BTC with them?

It would really give a different feeling when you know such thing where you are entrusting your coins into an anonymous exchanger.I will always still prefer for those who do comply with such regulations which somehow gives an assurance if they do tend to ran off with all of their users money unlike on anonymous one where they tend to ran then theres no chance for you to recover.Why do people hate tax? and as being said above even you don't like it you wont still have any choice but to pay.

Our governments and politicians will keep fighting bitcoin and altcoins but there cannot deny the beauty of blockchain technology. Bitcoin cannot be banned and even some country that have come out that they have ban bitcoin could not stop there citizens not to used it.  Bitcoin has remained the main such of news to many media houses today because of how influential it is to the society. Taxation is good but most of the third world countries leaders do not deserve it.

Crypto & anonimity have been made for the exact purpose to prevent the tyrant (gov) to put their hands on your hard-earned money.

So if you want to escape poverty, you have to be anonymous.
And being anonymous means nobody will know your balance , so the problem you talk about does not exist.
You have no taxes to pay for earnings you don't get, as far as they know.

The problem with this is cashing out, how are you going to do it? Or are you planning to never cash out? After all any maneuver you do with your coins in exchange for fiat will leave a trail someway or another, for example you could try to sell your coins for cash on localbitcoins with a face to face trade, but that is risky you could be mugged or you could be recorded doing this.

I think the bitcoin status is 50% legal and 50% illegal so we can judge that the crypto exchange will still exist and not be prohibited maybe the tax will be enforced.

There is no other option for exchanges than to comply with the rules of government.Its unavoidable for exchanges to exist in future without being taxed as no government would be willing to lose the huge tax revenues from crypto exchanges.Taxing exchanges indirectly indicates that the government allows crypto to exist and so it only helps progress of crypto coins.

I think it is better to have taxes rather than to ban the crypto exchanges, why? Because we can use exchange even there is a tax. The problem is that, if the government will impose an increasingly tax per year. I think it is not better in crypto people because most of us will quit using cryptocurrency. And that will be the result of total economic loss in cryptocurrency.

mugged ?
Well i hope you only do these exchanges in crowded places , not in a dead end in the suburbs.
And also you are not gonna exchange $1k in a row, but a few hundreds at a time.
That's what i would be doing.

You can be recorded, yes ( even though that's unlikely ).
But in order for you to be taxed for that cash you got from Localbitcoins, the police must break into your home and actually find that cash.
I would hide the grand part of my cash very well, better if outside of my house where nobody can find it.
So you can solve the cash out to FIAT problem

The real problem comes when you actually are spending your cash/coins for actual goods/services.
If you buy a Lamborghini with BTC/cash, they know you can afford it and they may bother you.

For now the only solution i can think of is to go to a crypto heaven. Brock Pierce is doing one AFAIK: https://steemit.com/blockchain/@eyegasm/puertopia-planting-a-cryptoseed-in-puerto-rico
Another crypto heaven is being built by an ex Paypal executive in the ocean, but i don't even remember the name of this project. I think he started an ICO for that.
In this way you don't even need to get cash, you directly spend coins.

Or go to a regular tax heaven with normal cash and spend it there. That's the classic solution that politicians and big guys like.

I think that idea will be possible, but it depends on the Government of the country where we are living if they ban or make a law that using crypto exchanges will be taxed.

Its not that the government dont eant the citizens free from poverty, the government just want the citizens to pay the taxes, if everyone is using bitcoin to do the transaction there won't be any income for the country and that will lead to anothwe serious problem like inflation and other things, regulations is the middle way between the users and crypto, wothout the regulations the government sure will banned crypto, because crypto is making the country losing money, I think you can't avoid taxes by being anonymous forever, one day you will need to cash out to fiat

That is a rational reason because governments should also be able to balance their income and expenses. The main revenue from the government is sourced from taxes, so if there is no regulation then the use of digital currency can disrupt the income tax of the government. We must continue to support the implementation of regulations such as government taxation on exchange. So any transaction made by an exchange may be subject to appropriate and pre-arranged taxes. It is disadvantageous to Bitcoin users, but I think it will be much better because then the government will have a good role and also digital currency has a positive view from various parties.

Yes i agree with you. the main reason why people use bitcoin to be their invesment or payment method is to hide their identity, hide their balance from public (to be anonymouse) and get almost free fees. but with govs to intervene the ceypto world with taking taxes. crypto world become uncomfortable and exchanger become more like bnk which is what we avoid.

But we and exchanges have no choice and we were forced to follow our government policies. I feel that better to pay the taxes to governments than getting banned crypto trading. I think going forward all exchanges will pay taxes to governments.

Yes. Crypto currency is a property and is subject to taxation. The procedure for taxing transactions on the exchange of crypto currency is regulated by the current legislation ... but there is another side - no guarantees from the state, all at your own peril and risk.

I think it is impossible for crypto-currencies exchanges to avoid paying taxes to the government, the law is set by the authorities and if the crypto-currencies exchanges owners wants to continue their business in that country, they would have to respect and follow the laws set by the authorities.

Yes its TRUE.

I definitely support regulation to protect us from scams and frauds when dealing with ICOs. Not only that, I am in favor of getting taxed when we decide to cash out in crypto exchanges for good. Just like any aspect of life, it is mandatory for us to get taxed on our salaries, business profits and so on.

Tax evasion for me is no good at all, as I want to pay my own taxes correctly, especially if I am actively trading in cryptocurrency exchanges.

Yes, they will be taxed for sure by the particular country's exchange if they are expected to be run their services over there for years something like Indian government is planning. Right now for example if you consider a country like India here the taxation is going to be accepted soon for crypto exchanges. And if the bitcoin is banned worldwide then you can expect to see the crypto exchange getting banned across major Asian  countries like india, China,Nepal and indonesia .

There are dozens of cryptocurrency exchanges, they have their pros and cons. But, most of these exchanges are not fair with their dealings. I think they should be regulated and taxed properly, so they can't cheat their clients.

I agree that we need to start paying attention to decentralized exchanges, but spendimg fiat on GPUs for the purpose of "mining to acquire cryptocurrencies" will make you lose money. Mining is not as simple as turning your computer on and "here come the coins". Haha.


Localbitcoins.com is a centralized service that can be taxed, and that expense can be passed on its users through fees. Decentralized exchanges like Bisq is still the best option.


This is very naive and, not to mention, stupid.

Bitcoin expenses dropped sharply during the past few days as the rumored China alternate ban is slowly being rolled out. First Bitkan, a popular Chinese language OTC buying, and selling platform introduced that they will shut down. Then BTC China, one in every of the biggest 3 Chinese language exchanges observed suit. And sooner or later nowadays OKEX, a futures platform run via OKCoin, announced that their new futures can be primarily based on a hundred% USD price index, in place of the previous 50/50 CNY/USD blend. A smaller trading platform VIABTC announced that they'll near their doors as nicely.

If today we completely analyze what is happening in the world of crypto-currencies on exchanges and exchangers, we can accurately determine that it seems that the administration is becoming very greedy and try in any way to increase interest for operations and withdraw more money from users.

Some part will certainly be banned and other taxed. But I don't see anything wrong with paying taxes. That's why future for the DEx.

Yeah i think COinbase already have taxes for USA citizens and i think in future alot of exchanger will have some :( Iam shoked like japanes need to pay 50% off from profit on crypt its a globally LOL !

We should not go against the regulation, it is the best possible way out to catch the criminals as well encourage the use of cryptos. 
Regulation will benefit the government as well as crypto users, you should not worry about the regulation if you are not involved in illegal/criminal activities.

Even if you hide your wealth behind blockchain you will be caught while cashing out because till now we can't use cryptos directly across the world for buying in daily life.

I can't believe there is still an agitation for people against government in regulating the crypto world and even to the extent of taxing and mind you, tax payment won't make you poor so far you are not paying hundred percent of your income as tax. The situation really needs to be regulated if we want it to be sustained long term because without that, the crash is imminent as the people who care less about the rules of the decency in any human endeavor would pollute the market so far their selfish interest is protected.

I think the future of cryptotrading is in decentralized exchanges. Those are like torrents for crypto :)

This would solve many problems.

thats could be win win solution for community and goverment.by  legalize crypto market and take taxes from exchanger would make goverment  get alot of fund to run their program in order to make their citizen prosperous.

Tax exist to gather funds from people for common interest. We might feel fine if it's talking about small amount of money but it's always be a problem when you get taxed due your large earnings so I wouldn't surprised if then a lot of people use bitcoin to avoid taxpayer. The problem are on each of you , not the gov who regulates exchange, they act like that based on mutual agreement, if you don't like it then change it through legal action.

For sure if they need to survive they will be taxed, so if they will not be banned they will have to be taxed. I believe that the smarter governments will find the opportunity to make some profit over the investment and allow exchange to live with very high tax regulations.

Cryptocurrency will be banned in any country when the gorvenment in these countries can't be able to handle cryptocurrency and control its disadvantage. Beside Cryptocurrency will be taxed when it'd be legalized in any country and become a local currency. At the moment, Cryptocurrency already banned in few countries but only legalized in Japan. Maybe in next few year, the number of country that legalize cryptocurrency will increase very quickly :)

Not everyone could buy GPUs and earn crypto coins instead of using exchanges and getting taxed for our earnings.Its not logical for everyone to do that.Governments have changed their idea of totally banning exchanges and they just want to regulate the exchanges by asking them to implement KYC and control outflow of money and at the same time,they just want to increase their earnings by taxing such exchanges.

The greatest thing the government wants now is for any exchange to disappear,( though not all government, at least for those who banned any crypto). The see the exchanges as a competitors to the country local banks but no matter how hard they try, all exchange can not be fully banned. One way or the another, citizens been banned from crypto will still find a way to buy and sell exchange .

There are number of crypto exchanges in this world and every exchange has got its own specialties and qualities. However, there are certain exchanges which are not that much good and most of the investors have lost their money by dealing in those exchanges. All these low standard crypto exchanges really need to be banned so that they may not result in loss of money.

Crypto will be taxed sooner or later. That is the main goal to all governments - to collect as more taxes as possible.

it looks like bitcoin will be taxed so it will have legality in the country, and it can be mutually beneficial for both everyone as well, anyway crypto exchange will not exist forbid while allowing only have and investment.

Your concerns are right but crypto trading will not be banned as there tons of money has been invested. It will be regulated and taxed for sure and we will have to pay the tax.  As of now we need the exchange or platform which will provide easy to use one stop solution suitable for individual or businesses regardless their level of experience by respecting tax rules and avoiding any case of money laundering.

This can happen in the future. The government may impose taxes and seals on the crypto trading floors, where transaction fees will increase significantly. They can force the investors to voluntarily accept the transaction fee + tax. With investors it is too difficult for them to impose and manage individual taxes.

That is what it used to be but not anymore.
Exchanges wants more from us so that they could keep their business ongoing.
That is the hell of the problem. They are the ones being targetted and the government tasks now is easier.
With all the KYC's and everything they know who we are as of now.
Evading it wont easy. You can mine but you cannot sell. How many decentralized exchange are left. If there is, they will limit your withdrawal. Since bitcoin went up in value it became a real big problem.

Crypto exchanges will not be banned and that’s for sure. They will surely be taxed on the other hand. Exchanges might close under pressure from government, but they wont be banned from operating. But most importantly all crypto exchanges will get regulated in the near future that will give government all transparency and help them stop any illegitimate activities taking place of track down any terrorist funding that is happening. Moreover people will no longer be able to hide their income in form of cryptos and will have to pay the taxes one way or the another. Though there will remain anonymous exchanges, but sooner or later people will convert their holding to fiat money.

Not like that, the governments are not getting any income from this bitcoin transaction that is why they are putting lot many restrictions on btc users.

nobody will ask you why you bought a number of GPU's. the only thing they will track how much money you deposited to exchange site and how much money you withdraw. so based on your profit they will collect tax from you that's it.

A lot of country's now wanna regulate crypto because its a new money which they need control and earn taxes from it , when crypto was little industry nobody need that but now when its big and giant everybody wanna eat something from crypto currency :)

Well, if that is scary for anyone they can decide not to make use of the exchanges in any of their transactions and go the P2P way. It is not like everyone is going to be coerced into paying tax, but as long as you are passing through the proper channel when it comes to exchanges, then you are obliged to pay your tax. As long as fiat is still needed one way or the other, it is not really something we should bother ourselves about as taxing is inevitable.

Maybe a small part of crypto that the government holds will may apply tax or burn that coins but i think that having tax in coins or crypto will be just stupid because there's already fees and fees is already like tax to crypto and every big investors or owners of crypto needs to make one decision with everyone in one room.

Yes exchanges are getting more uncomfortable. Some bank accounts where they operate have been frozen pending tax filing etc and gov wants to know who and how much they are making. Without exchanges it's also very difficult for people to participate in cyptos.

Thank you, somebody else realizes that we can't avoid the tax unless you your asking for trouble. Sure you can go the p2p way but I wouldn't want to look over my shoulder every night and worry about sleep and the tax man, no way. The best of both worlds though, would be if we could pay tax in BTC man would that ever be an awesome idea :P.

You are right, exchanges will not exist without the permit of the government, and since exchanges is legal there is already tax incorporated on it, so there is no way that we can avoid tax because it is already there, at some point, it is fine rather than no exchange at all.

In my country we are still awaiting about the framework if it is going to be accepted. Government has still not clearly clarified things and soon things will be clear and yes we do have a tax on the overall volume. If it exceeds then their is certain rules and form needs to be filled and additional tax is being charged too.

Crypto exchange banned yes and taxes soon. I believe government will take action about crypto in all aspect because there's a lot of money running every second and to protect their instrument financial. If taxes happen it will give impact into fees and become big problem for us. About your strategy, I can't say nothing because never do that because I only focus to make money not for other issue.

All governments are still in confuse and discussing how to collect tax from crypto traders. i think within this year they will come to one conclusion. So this is the best time for us to make money. after what all conditions they will put we don't know but one thing is sure it will become tough for us.

China is going to introduce official wallet and thus control the industry. It’s their style: fisrt ban and then create their own

Well like they say, nobody escapes tax (and death); not even in the crypto world which is suppose to be free and decentralized.   :-\

In my country recently inspection took place over the exchanges. Once after that based on the transactions happened through them, they were taxed. Still I don't think taxation of exchanges by governments is possible in a perfect manner as that of the taxes claimed from common people based on their income.

This is all depends upon governments law or regulations. To know that government wants to make money from crypto and this will be the main reason for approaching to regulate the exchange and have some tax on it. It will take more time but for sure it will going to happen in the coming years on crypto.

When a new income niche appears in the country, law enforcement officers begin to insomnia. This time their eyes fell on the crypto-currency miners. Tax avoidance. Any improvement in the welfare of a citizen, according to the authorities, should be reflected in tax returns.

This is going to be the next we can expect from the government but don't know exactly how long they are going to take for this legal activity. Once crypto exchanges are legalized then almost cryptocurrency is legalized.

Crypto exchanges will not be banned. Government especially the tax collectors are know making a proposal that they will put a tax on cryptocurrency transactions.

I believe crypto exchanges should be regulated properly. They are not following proper rules, most of them are cheating their clients. If crypto exchanges violate rules then they should be fined heavily and in some cases should be banned.

It is possible to regulates but impossible for now to be taxes.

Bitcoin owner was too much knowledgeable, so I think even the government are corrupt they can't trick the crypto currency owner. i think its a long run of time before crypto currencies become taxable.

They can be taxed the company or the exchange if it has a physical company that was registered in their government really needs to comply in taxing for them to operate same with being registered under the law when they violate or fraud their clients it can be filed, but in terms that the holder or coins owner to detect their account to tax it will be impossible to happen so find a exchange that is registered and legally operated.

It would not take long for regulation to start taking place and I am sure they would have started thinking the earlier the better which is why so far, they are trying hard to implement it quickly.

One thing is that the government cannot watch us all get the freedom we have so much desired and we really have no choice since they are the ones enforcing the laws and always looking for scape goats at the end of the day. We have had our filled time without taxes, so, I guess for everyone to win and for the whole FUD about clamping down on cryptocurrency to subside, regulation as well as taxation will just have to occur.

I think Poloniex will set a precedence after it's bought by Circle. Now securities token can be traded in Poloniex as well. Wall Street is having a stake in the crypto pie as well

Which is right, even we are not being taxed directly the local exchange that we are using if they are legit from where we are, they are subjected to pay taxes, so for sure they are also letting that from our shoulders as the users of their services, I agree that directly we are not being tax with what we have inside our crypto wallets, but once we are going to exchange it to fiat then its been subjected being taxed by the law in where countries we are
residing.

Crypto exchanges will not be banned and it is possible really to impose tax for the government that atleast they could earned from crypto. The thing that we should be is to be prepare in any circumstances because government will follow the laws and regulation but we dont know when it will be.

Being taxed would not make the crypto world turn to a centralized entity, the thing is that as long as we are all still going to be making use of exchanges, and converting to fiat, we cannot avoid it.

If you even say you want to buy your house or car by paying directly in bitcoin, for some countries where everything is monitored, you may have to explain how you were able to purchase them, moreover, you will still be paying tax on the properties anyway except if you are in a country where the tax laws are not that crazy.

The cryotocurrencies are already taxed by the many governments but I don't think the exchanges can be taxed but if the government want they can shut down that exchange in that country.But exchanges are owned by private parties so government may not involve in this in my opinion.

It will really be stupid of the governments anyway to ban something they can greatly benefit from which is what I am sure they have realized to start making steps in implementing regulation and the target being the exchanges since they are basically centralized. Unless you are making use of these exchanges, there is absolutely no way they can easily put tax on cryptocurrency to cryptocurrency transaction, except to fiat transactions, so everything balls down to the use of the exchanges.

Unfortunately in some countries, the payment of tax does not reflect much on the citizens and at the end of the day, you start asking where the whole tax has really been going to. I guess it is just the pocket of those people we placed in power. This is what happening with tax money and at the same time you do not expect them to just keep quiet on it and allow everyone to go about their daily activities evading tax and all. Because tax is the only major source for many countries.

Well some yeah it could be possible example like china here is some insights
South korea have manage to tax it
https://news.bitcoin.com/south-korea-tax-cryptocurrencies-current-law/

Here are some news about china and a possible disaster may come just look on the site https://cryptovest.com/news/china-freezes-all-foreign-crypto-trading/
 
Last one link might not be helpful to you but hey this might affect the crypto values and I'm sharing this for our sake and be aware of the coming disasters.

Taxes are unavoidable. Sooner or later the investors and traders which are avoiding the tax system are being caught. I wouldn't want to play with the taxes. If you look this situation from the financial aspect you can maybe regret that you have reported the tax system but in the end, you will be glad because you will not fear of the possible revealing that you are no - payer.
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Tax evasion is currently popular in the countries with the high tax outcomes but what can you do; the law is law and it is regulated for the security of the country, not for the fun.

How will this effect DEXs? Will they have to register as well?

The governments know the only way they can let things go smoothly is to regulate the exchanges rather than trying to ban them. Everyone have a reason why they want to make their transaction in cryptocurrency or why they want to invest and if they feel it is a problem or threat to them, they can create an environment that would make life easy for everyone with fiat which I am sure they won't. I believe exchanges will be taxed and not banned in the long run.

Tax is something we cannot run for and as long as we are converting to fiat via exchanges, I see no reason why we should want to run away from it. Taxing is something we know the government is definitely going to use to benefit from the evolution that blockchain technology has done and as long as people will always find it necessary to still make use of fiat and the exchanges, then tax will be definite.

If they can force the people to pay the tax + transaction fee for any transaction then nobody will do buy any cryptocurrency from the exchange. for selling, if they collect tax maybe some people can pay but for buying no one will ready to pay. If this rule implemented means automatically the crypto demand will fall.

And that shows how hypocritical they are. I thought their plan all along was to ban cryptocurrency, so why would they want to create their own? However, I am not sure if the official wallet you said they are creating is going to be for their centralized cryptocurrency or general multi cryptocurrency wallet and would you mind sharing the source of this as I could not get anything online? Nevertheless, I know what it would all ball down to is the exchanges being regulated and taxed.

With the way development is going with regulations and the way a lot of old and new exchanges have made KYC a necessity, then this is something that shows a sign of the government introducing regulation in the cryptocurrency community which would end up with the government taxing all our activities when it comes to exchange to fiat. That would possibly be classified as capital gain tax and we just have to adhere to the tax rules when it materializes.

Implementing taxed to exchanges is much better the banning it. If the government applies charges to those exchanges then it is pretty much a good sign that they accept crypto currency rather than pushing to banned it. And in fact these companies of exchanges are already have a permit to regulate the exchanges of cryptocurrency in their country so, eventually crypto currencies will be legalized sooner or later.

of course. the Government cant ban crypto but they cant ban the exchanges. but i think that if the government can collect tax from crypto, they wont ban it.

It is a possibility. The government can enforce anything they wish. But hey, first let me clarify that the word ban and tax are two very different words. Ban means it is not allowed and tax is a different thing also.  A thing can be legalized and be taxed. Hope you knoe the difference.

Easy digital currency such as COINS, what should a tax, and how to pay tax, has been a troubled problem all over the world, will also direct relationship between the governments attitude to encrypt digital currency.

Earlier this month, the Arizona authorities also began a virtual currency tax bill, which proposes to pay taxes on bitcoin, which recognizes that virtual currencies are money, not products. But not all lawmakers are in favor of paying tax on bitcoin. Steve Farley, the Arizona senator's representative, warned that if bitcoin prices fell, it would put taxpayers in a dilemma. But the authorities believe that the state should be responsible for the bitcoin transactions, and that the dollar is sufficient.

Japan, as a country that has embraced the ICO and the blockchain, will undoubtedly be the world's model.

Taxation is not good for cryptocurrencies.  Now we have fear of beginner investors with taxation and there is no entry of fresh money. KYC is good, AML is good but TAX is not good for cryptocurrencies. Cryptocurrency is not commodity cryptoCURRENCY is currency. You can pay with bitcoin. Example in Belarus country all crypto transactions and related income, including from mining, will be tax-free for the next five years. Why people so easily allow their governments to adopt laws solely in the interest of taxes without the right arguments?

It is possible to be taxed but not sooner and exchanges will not be banned,It is possible to be legalized registered by government and charge tax  it will be beneficial for government and economy due to generated revenue.

Yes they are going to be taxed. Actually exchanges in Korea are already being taxed and that is a good thing for crypto as it legalizes cryptos. And thats something that cryptocurrencies need very badly to grow right now.

The users will be taxed as per Income Tax Law as per there specific countries Law, taxing exchanges is quite a far thing and a complicated one, I guess Laws needs to be modified before this can really happen. Few exchange may get banned, due to there ineligibility to comply with rules, maybe. Actually they might be suspended, banning is I believe now quite inappropriate term to use.

some exchanges that are located in some special countries can take taxes like bittrex did , but It would be a harsh decision to ban any , because there are people's money in it and a country can't take them money unless it wants to steal them !
Even if a country wants to ban some exchange it must inform before so that people can withdrawl.

Exchanges will be taxed and I have nothing against that. Well, I made relatively easy money and I'm ok with those regulations. If we don't have taxes that would mean that we need to hide our income and can't spend it without fear. Main fear here would be the smiling tax man on my door.

It will be taxed for sure here in out country there will be 3 more exchanges approved by government so im expecting a low convertion of btc to fiat.

Most of the regulations about bitcoins is about making money money for the government and they do this by threatening banning it and later change their tone so that the traders will be happy and aceept regulations and they are definitely making a lot of money on the back of the crypto currencies world.

i certainly would not choose to mine. that's far too much outlay and far too much risk in case difficulties go crazy or there's a general crash. maybe 0.1% of crypto users would ever consider that option.

i'm interested to see how p2p develops in china. they apparently have dedicated telegram groups and stuff. the escrow element is something that needs solving for good. localbitcoins is just as prone to being hammered as anything else on the open internet.

the ideal would be a fully legit tether, but inevitably that will be the most regulated and strangled of all.

the ultimate option would be more and more people choosing to forego fiat completely. at that point there's little that can be done. there must be people already who live a good chunk of their lives without ever touching fiat themselves. i hope it continues to grow.

The point is that governments always want to avoid things that will have negative economic impacts on their countries and so off late that's why there is alot of regulatory sanctions being rolled out by different governments.Sometimes the exchanges can comply with such regulations easily without compromising user details but other times it is too strict the exchange may have to close down and that is what is actually happening now and in the near future.

But then why did they wait so terribly long to do anything with regulation regarding Bitcoin? It is not like Bitcoin was released yesterday or 5 years ago, it has been out for above 9 years now which is ample time to come up with some regulation. Governments are lazy, lets not sugar coat the reality now.

No i will not trust it for storing my asset on that exchange.
If most of the exchange get tax from government or regulation, i think i would prefer to store in regulated exchange.
Regulation can be very helpful to prevent such crime activity.

I accept crypto trades ought to be directed legitimately. They are not following appropriate tenets, the majority of them are swindling their customers. In the event that crypto trades disregard governs then they ought to be fined vigorously and at times ought to be restricted.

Cryptos are texed in some states, problem is that if there is no clear classification of crypto in the law there can be a problem how to properly tax incomes from crypto investing. It can not be banned but for example banks can block payments from exchanges so then there can be a problem get money from your investment

This is why a decentralized exchange with 0% transaction fee is a good alternative. A decentralized one ideally does not have a central governing taxable body with no taxable income (0% transaction fee) so yeah, it's kinda a loophole for current regulations.

I settle for crypto trades have to be compelled to be directed lawfully. they're not following applicable tenets, the bulk of them square measure swindling their customers. within the event that crypto trades disregard governs then they have to be compelled to be penalized smartly and every now and then have to be compelled to be restricted.

There are some exchanges that they apply transaction fees, so it is pretty much better if the government also will implement taxed to the crypto exchanges than to be banned. For us to be legalize in trading and investing in the crypto currencies because it will be hard for us if all of the countries will ban the crypto currency and we can check if the exchanges is not a fraud because they have an authority to operate from the government.