Bitcoin Forum

Everyone hear the news, seems in Europe the so called powers that be want to put more regulation
for anyone who uses an exchange there to trade etc, they want to know who you are and when you are using the exchange for transactions in crypto.
so much for using the block chain and having a hidden ID in a transaction
must be a tactic to tax everyone in crypto?

anyone else read this? thoughts? its on cointelegraph.

something we dont want but who knows eh

Governments all around the World do this all the time.
This is just how they operate, they like the money, they want to tax you, so they want to know all about your trades.

Bisq is pretty strong in the EU area though, as a strictly P2P exchange the level of privacy is very high, especially since it runs over Tor.

This is very normal. When government consider bitcoin as a stock or commodity it will require everyone who invested on a KYC and AML requirements. This is not a bad news since it was even required to the stock exchange and on banking institutions. This action of requiring bitcoin such requirements is a sign that bitcoin is already recognized by the state as legal and can be used within its territory.

I also believe that its a good news because by this action, government accepts bitcoin as an asset and allows its citizen to get involved with it. Its normal for the government to require your information so that they can assure that their citizen does not use bitcoin in illegal activities nor use it to tax evasion.

This is what KYC all about anyway, especially with the exchanges. I think Some countries are now paying taxes through their profit in cryptocurrency in US for instance. More regulations will happen in the future, we really have to deal with it.

Nothing new here, most exchanges have complied with KYC and AML  regulations for years.
Besides, they already now all about you since you use banks to wire and withdraw money from an exchange.


You can mix the bought coins with services like Chipmixer and you can have your privacy back.


Again, they can easily find out how much money you've made on an exchange by checking your bank account transactionsIf they were that interested in taxing profits made from crypto there is little you can hide.

Its not only Europe that wants to know everything about you. Your own country, your employer, your parents, your siblings and even your spouse. All of them want to know everything about you down to what you wear, the onus now falls on you on the amount of information that you can part away with any of the categories without hurting yourself because the sacred fact is that the ones who has the most information about you have the highest chance to hurt you the most.

Governments all over the world are bent on doing this and that is what one major reason they are against bitcoin and blockchain. The simple truth is that they could not do it through the backdoor, so they are coming out to say their mind on what is going on because if they had been able to do it, we wont have any of the noise about KYCs. Exchange sites also will be forced to fall in line or else they close shop which an entrepreneur would not consider. The way out if you are not comfortable in what they are asking, move to something else.

They regulate to fight money launderers. This idea they are covered. And of course they want to retain power, but no one talks about it.

KYC implementation is now a common thing that most of the exchanges have adopted. The main reason is to identify the user, governments have allowed exchanges to operate under certain conditions and regulations, this was one of the major condition that they (exchanges) will provide users information/identity whenever government ask for it.
I think this step is not against cryptos but against criminals because this will help to identify the criminals and to tax cryptos as well.

This is not just the Europe, all world wants to know who you are. The government want to know everything about you. This interest is due to their taxes. They want to regularize all the systems from where a common man makes money and government puts taxes on them.

  Exactly. Look what happens in South Korea for instance, the government made all anonimous cryprocurrency transactions illegal, so anyone who seeks for privacy becomes outlaw. It seems to be natural state reaction, every developed country will join such regulation

It seems this trend has been revolving in the recent months, KYC from most new ICOs and also exchanger and there is no hidden agenda from the government that this happened so that they can check what and how much their citizen making from crypto and yes its just another reason for taxing.

Yes they can found easily how much money you had but that doesn't mean they had the rights to confiscated all of it. In my countries tax was divided by income tax from business venture and income tax from "jackpot" prize, and since cryptocurrencies isn't considered business venture and more like jackpot money so if they get the record of your transactions from exchanger then they can charge more for the tax.

No matter how they will try to take control of bitcoin and cryptocurrency world , there will be always a back door solution , they are not looking for money laundering here because there is no point of chasing after drug dealers in here while you can find every dirty money in Panama , virgin islands or Cayman islands , they want a piece of this cake that's all by trying to put some taxes on crypto trading and transactions but there will be always a solution to avoid this control .

And I guess this is why bitcoin and other crypto currency fall under the pseudo anonymous nature and not the anonymous one! I am sure this is surely about the taxes and tracking down of the crypto assets. Though thats the case then also it doesn't matter because at the end when you will have to file the taxes then you have to write down every other transaction that you made through the bank account. So whether it is live tracking or not, at the end you will be exposed anyway, willingly, unwillingly!  :D

And who said anything about confiscating all your money?
Nobody!

It's just talk about KYC, here is the article by the way,  since the op was to lazy to add the link
https://cointelegraph.com/news/meps-vote-in-favor-of-tighter-aml-regulations-for-crypto-trading

Furthermore some countries in the EU still have no tax forms for profits from crypto trading as they are not recognizing them as anything  ;D



They fall under pseudo anonymous because of the fact that transactions in the blockchain are public, but if you're smart enough you can prevent people from linking an address to your person.No coin can guarantee anonymity when you trade your coins to another person for fiat, in that moment you renounce to all your privacy.

And even if you go an use coins only for crypto purchases, your privacy is still at risk.
You order a pizza? Now the BTCaddress is linked to your home.
You buy a smartphone from  a shop, even if you go and pick it up yourself they will still have all your data for warranty reasons.

You can only remain anonymous if you avoid anything connecting BTC an real world purchases.

This is a bad tendention of last time: governments want to control everybody and everything. Almost everywhere KYC is required demand.
BTC is the beginning of digital resistance movement.

when you are using the blockchain technology or conversely cryptocurrencies you are not hidden as much as you think you are unless you are using the real anon coins.
and when you use exchanges you are not even using the blockchain technology to begin with!

obviously!
they may hide it behind things like fighting money laundering,... but in the end the motivation is purely for taxes.

Same thing in my country , they imposed the know your client to determine the actual user of  bitcoin and getting information to that person. They want to trace your assets and investment as they want you pay taxes from your earnings through some kind of exchanges and trading . It is not bad at all as they put  regulations for any transactions in bitcoin and to other coins. As  crypto undergo through exchanges to any local currency , government ,over rule upon it.

Europe is trying to find ways to control cryptocurrencies and monitor all transactions. That is simply destroy the whole sense of independence of blockchain technology.

Of course, governments want to indetify users. After all, the state always wants to benefit from any financial instruments. And then there's bitcoin, which made a noise in the economy. But not everything is so simple. The philosophy of blockchain contradicts the concepts and laws of many States. That is what concerns governments.

All exchanges in the EU are regulated.
If wanna trade on one of the platforms you will have to do all the KYC stuff. Since a few years already!
So this is nothing new. And if you wanna stay "underground" well buy peer to peer.
Meet with a person and buy or sell with cash money. It's not illegal.

of course, that is going to happen. For governments in order to prevent money laundering and terrorist financing, they need to know who is moving the money and where.

I think they're doing more of this as an attempt to protect the customers, they're not doing this in an attempt to hurt anyone. At least that is what the EU is known for at this point, putting the consumers before the customers-- which of course customers love but the producers not so much.

Europe has also pushed out 2 year minimum warranties (BY LAW), lemon laws, and things of this nature. Very consumer friendly. But I'm unsure of bitcoin friendliness.

Why you people are so afraid of taxation?why it seems like it was more of the tax are you afraid not of being exposed our identity ?let the government do their obligation,and lets do ours..they wont stop bugging us if they dont get what they want,and we will be urging every single day..

I think for us to evolve and be mature worldwide,maybe its time to give the government their piece of cake from then we will be legalized and may operate in every matters that needed

This is not new. The US has done this to tax people. Coinbase was asked to submit their investors information in order to know who they are and thus are subject to tax. The government are doing everythi g to get money from people. They're looking at crypto as an asset rather than a currency.

I don't think this would cause any problem to anybody. If you want to stay anonymous, you can still be that. You will just have to find an alternate method to withdraw the amount you have. Not only Europe but many other countries have tried to regulate crypto as well so that they can collect tax from the people. I consider it as a fee to legalize crypto ;D because as long as it is regularized, it is legalized in your country and there are no FUDs related to ban on crypto.

This is all about money and the governments are now using their powers to demand and ask for their shares about crypto currency thru taxes. I hope that here in my country will not be so strict as what op had experienced.

The reality is that we all don't want our data and identification being given out anyhow, but scammers and fraud on the blockchain has troubled us. Crypto and blockchain was supposed to be fair for online transactions which are secured and highly anonymous, but that's goal has been affected recently. Due to that, regulations keep on coming each day and it keeps on threatening us.
But on the other side, governments are also trying to suppress crypto (they think it's a threat). Well let's hope we get pass through this troubles and sustain crypto. The future is bright

The majority of the governments wants and needs money so they just want their part of the cake

yeah it must be they just sugar coated it with their nonsense they just want people to not evade the taxes, the targets are those millionaires. these guys knows how much Million $ our circulating through exchanges so they want a piece of it.

The introduction of KYC and AML mechanisms in Europe will positively affect the crypto-currency market. In this case, millions of new investors will come
to the market without fear of tax services. In addition, this will create the prerequisites for the integration of crypto-currencies into the monetary and financial system of the European Union.

There is nothing wrong with this regulation. I think it will help curb money laundering through Bitcoin and hopefully lower the hacker attacks against crypto holders and exchanges as it would be harder to launder the cash afterwards.

this is a very delicate matter in my opinion and it can go both ways.
if there are restrictive regulations and unreasonable taxes then they will slow down any kind of cryptocurrency advances that Europe can have in the future and they may even stop it for a while!
but if there are logical regulations such as regulating exchanges and stopping all the scams and shady people from scamming then things can become even better. what is some taxes if we can get a secured market where no exchange dares scam us or manipulate the market?

that is only a natural development of regulatory policies in European countries. They're creating the compliance structures for crypto users, which is really good news for everyone in Europe and whole blockchain ecosystem

I do not see any point of discussion over this news because whatever is happening in Europe is very normal and is expected of every government. If they are accepting a currency in their country, then it is quite obvious that they will bring it under the purview of regulation. Then what is the point of discussing it! Actually this is a good thing from my point of view. because with the regulation there would be less chances of scams occurring over the new ICOs that are being launched.

And almost every country does thing and it is nothing new to Europe only. Because the countries and their governments have to fulfill their regulatory compliances, and these KYC norms are a part of it.

Not just Europe, you should know about your own country. Your country should know what you are doing, whether your income is on the way. We should pay tax to the government of the country

Obviously, the reason is simple. Their government wants to have control over cryptocurrency. Its possible that they are planning on how to charge taxes on it.
Its also possible that they conceal the truth..  For I.D purposes or they plan on imposing regulation. But the truth is? Their main intention is to monitor their citizens. Its for surveillance purposes nothing more..
To monitor illegal activities and to identify person of interest and criminals.

This means it imposes taxes on the owner of crypto, and this they take taxes in secret, and I do not think this is appropriate to apply.

A government's aim is to govern. When something as disruptive as crypto comes about, govt's usually respond in either two ways, one, they fight it will all the legislative power they have or two, they decide to work with it. Taxing crytpo users while allowing the crypto market to continue growing in their respective economies could be seen as a good thing, overall. At the very least it could be seen as an inevitable stepping stone towards mass adoption...

It is not only Europe that wants to know every single person who is inside their jurisdiction. Every country should do that. The problem is that other countries do not care much, too lax and negligent about their duties. But it is one of the primary duties of governments to know every single person so as to make sure that everyone is well-monitored and accountable. Thus the national ID in many countries. This is not really something that is brought about by the rising popularity of cryptocurrency.

The European Union would excise much less restraint when it comes down to tracking down crypto traders around its region. The nations in the region are known to have promoted cryptocurrency usage in the early days and have now resorted to laying down rules and regulations which govern trade. Coming down to ID, things seem to be getting stricter by the day as countries are trying to get a foothold into things.

What kind of regulation will be applied later becomes the determinant of cryto progress. Regulation is made not merely want to know the identity of the people who do exchange. It would be better if the regulation was made with the aim to minimize the crimes that occur such as scam, fraud, and money laundering. Do not let the regulation later that makes the movement crypto be stalled.

If there is a lock there is a key, if there is a regulation there is way to break them. Just be calm and don't be paranoid this is just a temporary rhetoric against cryptos it'll soon die away. You can always trade in cash and gift cards and not be caught. Just follow the steps people do and relax. It's normal for the governments to do this.

Another strategy from Europe for them how to have different tax rate or tax study for different kind of classes

Just relax and just follow what they want, so far I have done kyc on some exchanges, casually I follow their wanted because I also need their exchange to trade. So that's not a big deal so far and I'm still fine with that regulation.

Yep, source is here if anyone wants it: https://www.coindesk.com/eu-parliament-votes-for-closer-regulation-of-cryptocurrencies/

Right now, there are still exchanges that will allow you to exchange currencies without identification up to a certain limit. I think what will change in the near future on a large scale is that they want to enforce total KYC in EU exchanges, even if you're just wanting to exchange a few dollars worth of BTC. Localbitcoins is already feeling the pressure and seems to have started to ask more and more traders to verify themselves.

I mean, they've been pushing for regulation, especially stricter KYC laws, ever since bitcoin exchanges started to operate in the
EU. So when this came out it wasn't exactly unexpected or surprising for me. Stricter crypto regulation is going to be a global trend in the near future.

If they could crack the blockchain that is. Though still they could track you knowing your address and the transaction, its hard to identify who you really are. As we know that in the blockchain you don't provide any accurate information about yourself. I mean, you don't tend to expose yourself, do you? Well, it depends on the user I guess, and to what exchange you're using.

Well sounds like a good news to me coz the government seems like embracing the world of bitcoin/cryptocurrency.They want legalization of it for sure and wanted to implement a restrictions for a safe and secure transactions but the bad part here they might control stuffs like demanding too much tax or whatsoever that may affect us bitcoin members.

Knowing people behind transactions gives away the anonymity feature of bitcoin and crytocurrencies but it's not a bad thing to do considering the rate at which people are being scammed. However governments always have ulterior motives. This is a necessary evil.

Nope its not a good news, in fact its not a matter of good or bad news, instead its a threat. The government always wanted to take control, in any way possible. Even if this part of them is still little in terms of control, they would try everything just to achieve that goal. And if so happens that the government would ever took control over blockchain, then every cryptocurrency are just another currency that are regulated by the government like fiats.

This is usual. But with anonymous transactions they can't follow everything, but they will try to take the control as much as possible.
I'm happy that we got blockchain payement system. I don't like control that much. But it is necesary at some level.

Wounds such as terrorism and organized crime do not look favorably on phenomena such as cryptocurrencies that make it possible to move large flows of money into anonymity.

Yes I agree with you, I think Europe just really dont into anonymity, which was the nature of this currency. Like KYC, this process prolongs the waiting time of a person or group of people to get the profit that they actually expected to the certain campaigns, this is really hard for me since they want specifically for passport and licensure documents only, and for now I dont have either of the two, and if I will be in that kind of campaign surely I can never have my profit.

It is expected from the start that the governments will start implementing strict regulation for the users who are dealing in bitcoin and other digital assets and with the rally we had last year it has given a sense of urgency for the governments to come up with regulation and expect those to happen soon from around the globe.

There will be decentralized exchange anyway. However, to cash in fiat it is more difficult because you need to use banks transfer. Decentralized exc is among bitcoin and altcoins in your wallet. You need no third party but fiat to cryptos need banks or third party. The govt plays the rules here in the third party.

It's normal and it wasn't unexpected. Governments want to control financial activities. Because they want to get taxes. They also want to know the people who are doing illegal activities. It's not bad.

Europeans countries are investigating on Cryptocurrencies to take the advantages and also help people to use it in better ways. It's better than those countries that don't know the advantages of bitcoin,  ban bitcoin and think that they are doing the best (though they cannot ban bitcoin).

Now this europeans want to know your identity. When setting up KYC and AML requirements, KYC and AML requirements are indispensable. This is not bad news because it is necessary for stock exchanges and banking institutions. This action requires bitcoin which is required by the state as law and can be used within a particular area. 8)

I thought everybody knew the European Union was turning into a fascist state. It has already happened in France, the Netherlands, and Denmark, to name only 3 countries. I don't think the people living there deserve to be called humans. They are not in my mind. They're vegetables.

The solution, which I was happy to put in practice is to leave. I had properties in the EU, I've sold them. I've had bank accounts in the EU, I've closed them. I've gained freedom and wealth. Every European should do it.

Of course it is. They want to be able to control a newly developing system, one that is rising up faster than their legislation can keep up with. By knowing who owns which wallet address they basically give themselves some breathing room to retroactively track things that they might have missed otherwise. Then again, KYC is going to be necessary for global acceptance, we might not like it but that's the way it is.

This is getting more alarmed,a lot of countries are putting regulations thru cryptocurrencies especially here that is why i am not confident with bitcoin's value.Because it might collapse anytime soon as the government is too eager to put some taxes or else restrict the cryptocurrencies to our country,i am playing safe so that i wont regret at the end.

Cool let see how are they able to set these regulations It's unlikely that many people are actually going to go with their regulations everyone wants a free and fair currency and now when people are starting to realize that they are putting regulations but there is a problem that they are going to face and that is they were too late

this is the KYC thingy,well i think is to really knw and locate terrorist but is europe under any attack?or threatened?Europe is trying to find ways to control cryptocurrencies and monitor all transactions. That is simply destroy the whole sense of independence of blockchain technology What kind of regulation will be applied later becomes the determinant of cryto progress.let's just see how the KYC thing go.

They do want to tax people related to cryptocurrency and blockchain. I also think that the companies and exchanges are also sharing the user information with the government agencies and from what I think the government is saving this information to tax people and put charges on those evading taxes.

I guess this is some kind of KYC that europe wants to know about the user and anyone would hesitate in sharing his or her personal information with anyone but somewhwere this is legal because if you are using someone's exchange for trading bitcoins then they have the right to know your general information so i will tell what europe wants to know and being little funny i alwys has a dream from my childhood that more and more people tries to know about me , i want to become that much famous and if europe is fullfilling my dream then i will be very happy.

how are they ready to set these directions It's impossible that numerous individuals are really going to run with their controls everybody needs a free and reasonable money and now when individuals are beginning to understand that they are putting controls yet there is an issue that they will confront and that is they were past the point of no return

This was to be expected. So it will be everywhere. Nothing in this terrible I do not see. There are no places that the government would not control. It's only a matter of time. Let's adapt.

If you wanted to trade without the need to verify your identity then you can do so in decentralized exchanges. They may have control in centralized ones but in decentralized exchanges, you can do what you want. If the coin that you wanted to trade is in a centralize one then you have no choice but to submit your verification documents. This is the government wants because they do not want to lose control of the movement of funds and they want a share too of your profits. If you think about it, this is better than totally banning cryptocurrencies in which you don't have a choice but to give up crypto if you don't want to violate the law.

I do not think it's just European countries who want to know the identity of crypto currancy traders, maybe the goal is to tax taxes for all crypto currancy traders, because the velocity of money in the current crypto curracny trade is huge. I think it's better for the merchants data to remain secret because it is part of privacy

I do not think that someone needs information about you.
But everyone is wondering how much money you use and everyone wants to profit from it.

This is a natural thing done by the government, because the government is financed by tax money so they wouldn’t want to do this. Besides those taxes there are also the benefits or services we get from the government, they don’t just sit back on the soft sofa waiting for their salary, because it’s the people's money so we have the right to make them to serve what we have paid and besides for the sake of preventing criminal action this is very necessary and your data should be protected.

You should be grateful that the government in your country did that, it means that the government in your country acknowledges Bitcoin is a part of the asset or commodity whereas many countries are banning the transactions and even the ownership of Bitcoin. Every transaction can be misused, to cope that, the government takes precautions by doing so that should clear the name of Bitcoin and increase the consumers trust.

For me the most important thing in dealing woth the cryptocurrency market is its ability to have us anonymously use their services thus keeping our privacy and everything we do to make it a much better world. However some of the governments fears and apprehension is caused by them having no power to the cryptocurrency market thus being them unable to control the ebb and flow and with this comes the anonymous and privacy setting of cryptocurrency

Not only Europe, but the US wants to know about you as much as possible. Therefore, the emergence of such news is not surprising.  The fact is that the american "big brother" knows everything about us, and now Europe has decided to take an example from the US...

I really do not understand your idea, Europe will probably make more provisions on the Crypto market, this can not happen, if European regulations come up probably on the occasion of the upper conference G20.

Independence here means we have full control of our money, it doesn’t mean we have the right not to be watched, as long as you live in a country then you have to follow the law in that country. Bitcoin was created not to support rebellion, but Bitcoin is also a part of the economic revolution, the revolution doesn’t always have to be against the government.

KYC and AML are a necessary pain point at the moment; however, in the long run it should be possible to prove your identity and legitimacy without revealing your personal details. This is something that Blockpass is working on in partnership with Edinburgh Napier University as part of the Blockpass goal of providing truly private, self-sovereign identity.

https://blockpass.org/

https://medium.com/@blockpass/building-the-worlds-first-advanced-blockchain-identity-laboratory-c53842215ccb

This KYC need when you want speculate with crypto.
Dont pass KYC and use crypto to peer to peer transactions, nobody cant stop you

That's what they do - control all and know all. And of course, after all that - tax all. I always wondered what's the difference between government taxes (if you don't pay you go to jail - not good) and protection taxes from gangster movies (if you don't pay you get your knees smashed - also not good).
Anyway, it's a fight: they want to control us, and we struggle to be free.
I think they'll never  completely control us - one way or another we'll find a way to move freely - but it won't be easy.

I perfectly agree with this assertion. Its not only Europe, the entire world wants to know who you are. Governments want to know everything for their tax purposes. This would help to effectively regulate the system

Most governments want to know about every financial transaction, especially crypto transactions. Cryptocurrencies were meant for p2p transactions to bypass the middlemen. That means banks and governments would have no control over these transactions and they also do not know who are involved. That's why the authorities want to regulate crypto. Exchanges have to implement KYC procedures and pass information about customers, so they can be taxed. That's the main reason why governments are pushing for KYC.

There is good intention and also a counterpart, a unexpected intention in it. First it's a good measure so they can know if some terrorist is actually cashing in money. The downside I see here is they are now capabale of slapping you with trading taxes. Government wants security and also a piece of pie from your earnings.

Of course they want. But I am not sure how can they do that, since they seem to be on the path of declaring Bitcoin a currency.
And with Bitcoin right now it's not easy to find out which transactions are exchanges/conversions and which are "earned money".
Am I missing anything here?

Thoughts are pretty good and I like the way you think.
I think if there is a person's name name registered by the government then I agree because he has been classified taxpayers from the government so he can be more calm in carrying out his work wherever he is.

each country has its own rules to regulate all financial activities related to the economy. every country would want to know who the business actors in the economic field so that the country can control all activities so as not to harm the state and local entrepreneurs. and the state can benefit from such activities by taking taxes.

In other words it is known as KYC or Know Your Costumers related activity by the Europe in which this is should be a SOP of all nations that will going to adapt Bitcoin so that it will not be use in illegal activities specially in money laundering. This move is good specially in Germany and France in which Bitcoin has no tax or less tax in these countries but still it should be regulated to ensure the safety of the nation and its citizen.

This has been going on for a while, so I am not at all surprised. Most exchanges now a days require a KYC process (even some ICOs require it, as well as bounty campaigns at the end). I do feel it is tax related, but on the bright side it means that governments are starting to recognize cryptocurrency more and more as a valid asset making it no longer "banned" or "illegal".

I think it's really a good news that the government wants to know about you and if you're happy to pay taxes in crypto. This means that this technology will not be banned. So please help keep it up to date with the right information. It will be good for you and Bitcoin.

mate, not only Europe but around the world, too.

I think there is nothing surprising. This is how everything works. The government needs to regulate everything and everyone. That's why you should take care of those aspects of your life which you would like to keep in safety

The European Union would excise much less restraint when it comes down to tracking down crypto traders around its region. The nations in the region are known to have promoted cryptocurrency usage in the early days.

And this is why Decentralized exchanges are growing, slowly I admit, but still, and more people will start to use them. It's not a "taxes related" problem but rather a money laundering "excuse"... Some countries in Europe are welcoming businesses related to cryptos, and some are charging a quite low percentage tax, or zero.
The money laundering "excuse" is used with the hope to be able to track transactions, yet with fiat and all regulations that popped out since a decade did nothing for their "money laundering "excuse""

basically this is good, and this is not just in europe, in Asia and all countries around the world, 99% i believe their way of thinking is same. this is normal. and I do not mind that. KYC, AML and Tax, as long as it is really needed for everyone's good. I will accept it.

I think it's up to the European countries to move like what's important is bitcoin should not be used for crime, better bitcoin technology is used to build some infrastructure that can provide benefits for the community and can make new technological developments.

I do not mind if the owner of the crypto is subject to government taxes. if it can guarantee the security of crypto and state support the development of crypto.

No tax in Germany for Bitcoin?There is tax for everything in good old Germany and for cryptocurrency it´s ca. 40% if you have earned more then 600€ and you have not hold for 1 year.And i believe it will change ,just like they changed it for stocks as it was popular and everyone wanted to go into it.
Sure,it will be regulated so Goverments can take more from that cake

I strongly agree with this statement. Let us be positive people, we have gained so much profit from the previous seasons of Bitcoin and one thing we should embrace to continue our sustainability is to follow what the government wants us to do. It is also an advantage for us who legally do our trading and investing. The government can't protect us if they will not regulate the system.

In this there is nothing unexpected. Europe was attacked by terrorists. We see that senseless terrorist acts are committed in European countries. They simply attack with knives on passers-by, then on cars crash into the crowd, then make explosions in public places.
  Europe simply has to defend itself. Therefore, in Europe, identity identification will be used in the exchange and sale of crypto currency on exchanges and exchangers. With this, you just need to put up with the inevitable.

that is definitely what is going to happen. The governments are allowing bitcoin and other crypto transactions, but they will want to know who is doing them, unless it's only small tx

That's why many governments are against the crypto stock exchange. It can not be followed.
When you make a money transfer, you do not know where the money goes out and where it goes. You see only 24 addresses. Governments want names and ids. I think they are right. Malicious people are also using this stock market.

How is collecting data about investors going to protect them fraud? People who raise money through ICOs shop around for the jurisdictions with least regulations. Innocent investors are burdened with extensive know your customer and anti-money laundering requirements.

No problem for me as long as I do earn from it. It will also help the community to not be able to be scammed by those bad people around the internet.

The European Parliament and the Council of the European Union have proposed amending a directive on preventing money laundering and terrorist financing that will require cryptocurrency exchanges and wallets to identify suspicious activity, a directive that would include identifying bitcoin users.

So far, no one has any influence on BTC, I know that it is very distasteful for the governments of various states. BTC is independent. Therefore, it is often blocked.

what did you expect? To bypass every regulation forever?
Regulation are there for reason as well as the ID checks.

Block-chain transaction are the same as regular transactions , they  are transactions of funds fro one person to another.

KYC is norm last time on any regulated exchange
Not only european altough give me example of european exchange
Look usa based bittrex poloniex thay also have kyc thay even dont offer fiat money exchange
Japanise exchange are the same old good time is gone

The people behind the transaction can give an anonymity feature of bitcoin and cryptocurrency but that's not a bad thing to do given the rate at which people are being cheated. But all that government has a hidden motive and this is a crime that needs to be careful. 8)

No problem here. I have nothing to hide. People with crimininal intents are the only ones worried about governments keeping track of cryptocurrency transactions.

Some kind of regulation of tax payment should be, it is indisputable. Another question is how the governments are going to implement this scenario?

What's the problem here? In case you want crypto to become legal, it has to be regulated and also taxed.
No one can make you show your personality, but official projects always presuppose that you know and can trace those, who is in charge for it

Most of the governments want to know this and it is valid concern. This is because some people are keeping corruption money as crypto which is not good for economy.

Besides being able to keep track on how much tax you have owing on your transactions, it is also there to prevent money laundering and terrorism financing as they can trace the transactions back to you.

KYC for customers now in cryptocurrencies is now the order of the day. They need people to verify for KYC.

Of course they want to know the identity of the participants or investors. They create a form with a name, national identity or passport, electricity or water bill, and a bank bill. Some people who are not interested about it, due to fraudulent documents or on behalf of you as the perpetrators of theft. My suggestion if you live in europe then you have to fill the identity terebut so you want to get a gift from their project. But if the other continents do not want to follow him despite the great prize given from the european side. 8)

What’s the problem with that? I have nothing to hide. If they want to tax bitcoin, fine with me. Taxes are used to pay for healthcare, infrastructures, etc. Bitcoin will not become mainstream without government regulation.

I think not only in Europe but in some Asian countries already do that even though tax has not been applied in that country. in my own country the government requires local exchange to give requirements to the users to verify ID so the government knows who you are? but they have not provided tax rules to bitcoin users

the government considers bitcoin as a commodity, then everyone who invests on KYC requirements will be required. This is not bad news because it is necessary for stock exchanges and banking institutions. marked that bitcoin has been recognized by the state as legal and can be used within its territory.

Who wish higher anonymity will use anonymous coins, decentralized exchanges, etc. Government create more regulations to keep more track of what is happening, and that will never stop, but they can't cover everything. I am not an anarchist, but we need better systems, we need new governments, we need to pay more attention on world around us and make system that will be good for all of us. Main thing why I am against governments is because politicians who just care about their own interest, not just them economy is working for people who have a lot of money, and in this times everyone cares just about profit, that needs to stop somehow, just like that we can see better days.
We

is this the purpose of KYC done?
is it true, our data will be misused by some, for its own benefit?
I began to feel uncomfortable with the KYC

This is my first time reading this. Governments are taking their first step to tax the whole cryptocurrency market. I believe this will ruin everything since there will be no more anonymity and it will be less-efficient to do trading. People will soon lose interest in cryptocurrencies and they will just go back to normal investments and businesses. To that end, I hope Europe will never achieve what they are trying to do.

to be honest when I was asked to provide a very sensitive identity I had time to think twice or more because when you send the identity you have automatically your privacy is no longer there.

do not be in Europe, all over Asia have been using the id and other transactions by using the electricity bill, phone, etc.

that's what KYC or AML call it, the more it gets harder for Bitcoin trading and we have to deal with it voluntarily.

Well this could be good for those who had smaller scale transactions to be made because we can barter our security on the exchange since we are only having little amount of crypto for exchange. However, for those who are rich would find it hard to exchange their crypto since they are having huge scale of exchange and it might be risky on their part to be identified. This move also would identify theif or hacker that hacks crypto and put to an exchange of the crypto being hacked.

sadly this is no news, governments always feel better by beeing in controll of everythinge especially when it comes to finances... ANd yeah they want to tax you, they want to know whom you're sending money and for what reason.. and tax you again..

To be honest, most part of Europe is free living democratic societies, where you can do literally what you want until you hurt someone. I suppose, government cares about untaxed incomes and suspicious transactions what is pretty normal to me

Well, why not post the link so we can read it, you are 1005 right they want to tax bitcoin traders, because there are a lot of money to be made taxing traders, imagine the volume and the million transactions daily, this is huge for this country, if they can implement this.

This recent invention of KYC has made verification process easier. Governments around the world are  doing this and that is what one major reason they are against bitcoin and blockchain.

It's a good teacher, all these developments. Every single move, regulation, crackdown and ban is teaching us one more lesson yet about why Bitcoin was created and we all need to use it properly. I'm not an anarchist myself, but like you, I truly believe in decentralised systems. Not a decentralised everything the way ICOs pretend they want to do, but certainly some governance, economic and social structures deserve this efficiency.

That said, maybe I'm the only one reading this a little wrong, but GDPR (and I'm still not sure what OP is referring to but since we're on privacy...) isn't so much about wanting to know who you are but letting you know when someone wants to know who you are. I actually think it's more good than bad - simply because of the "right to be forgotten". Some point to blockchain's immutability as a conflict to this but I tend to disagree. It's not like Bitcoin's public blockchain would ever be used to store that kind of thing, plus blockchain tech already means data can interact without processors/controllers ever needing to interface with them.

This is perfectly normal. When the government considers Bitcoin as stock or commodity. Governments around the world are determined to make their way and their main reason against bitcoin and blockchain. The simple truth is that they can not do it through the back door,
  The government wants to know everything about you. They want to regulate all the systems from which ordinary people make money and the government puts taxes on them. Look at what's happening in South Korea for example, the government makes all unusual cryprocurrency transactions illegal, so anyone seeking privacy becomes a law-breaker. Each developed country will join the rule

I see nothing bad in this feat anyways. Identity verification is one major problem that needs to looked into thoroughly. One major way to achieve this is through regulations.

 :

On the one hand, this will strengthen the position of the crypto currency, and on the other we will have to pay taxes, but there is nothing critical in this, States also need to replenish the Treasury)

although I am not read the whole news, I think if it's necessary, the identification will be implemented in every country that accepting cryptocurrency so the government knows who is people behind the crypto. but I don't think that every crypto user will agree with this because this is not their reason to use the crypto and they still wants to hide their identification so they can use the crypto with free. I think let's we wait for another news about this and we can see the response from the government and the crypto user.

I don't think is only Europe but any reputable exchange who need to be on the safer side will demand a thoroughly verification and kyc to identify its potential clients. And almost all government now demand that from exchanges

The want to know the people using bitcoins so that they can tax them very well that’s why they are going for regulations and making exchanges collect data about their customers.

If I'm not mistaken, the taxes are for public use. If a government makes deviations, it would not be something that did not happen before, we just have to make sure that its use is correct. Now the use they make of our identities is what we should really discuss.

I do not know if I would ask the question correctly, but would you like a terrorist or a criminal to get money from the cryptocurrencies and at some point could be a victim of this failure?

That is, you could be the victim of a criminal or a mafia that was financed in this way, if regulations can reduce this risk.

It seems to me that information and identity are something you can cover if you take the right steps to avoid the kyc or at least divert your attention.

Someone corrects me if I'm wrong ...

When you make a money transfer, you do not know where the money goes out and where it goes. You see only 24 addresses. Governments want names and ids.

goverment will be always interested in control people in their coutries, because there are too much corruption with money and earning money

This is quite normal, the end of the anonymity of transactions will increase the development of cryptocurrencies. the only downside is the tax on transactions from the govement But it's not so scary

This is natural, because in Great Britain they want to make bitcoin the state currency. In my opinion, they are thus, will keep it under control. Another question is: what will be its advantage then if it is equated to ordinary currencies?

I think this is good somewhere that imposing tax over bitcoin and legalising it , is somewhere good also, though obviously it will inflate the transaction fee but still I am in favour of legalisation of bitcoin in my country. And Europe has taken such a great initiative that it will asks person’s identity before using exchange for transacting crypto and I guess this will limit the illegal use of bitcoin and then can remove the main stigma over the bitcoin. So this is appreciating initiative taken by the Europe in the field of cryptos.

This is not a bad news since it was even required to the stock exchange and on banking institutions.this is not their reason to use the crypto and they still wants to hide their identification so they can use the crypto with free.

Well, it is not out of place for centralized authorities to want to have such information especially coming from Europe in the face of continuous threats from extremists and all that. But whether we would allow it is up to the crypto community.

The right reason to reduce fraud in their country seems to be a good move and good thinking.

 it is very simple thing, government always find a way Way to control your money, legal or not, it doesn't matter

 it is very simple thing, government always find a way Way to control your money, legal or not, it doesn't matter

This can help the cryptocurrency world. Apart from the fact that government is more interested in imposing tax, regulating the exchanges will help them to combat money laundry and other related financial crimes. Since you have your KYC with the exchanges, you are now easy to trace. This will eventually build confidence.

That is the first thing comes into my mind the main reason they want to know the identity of every traders so by submitting any legal documents to know their customers they can put tax on every time the user out their crypto or every time they make tradings so by that they can see the numbers of users and for sure the government think on how they control crypto.

I suppose the majority of the governments (and not only European) would like to control as many people's life aspects as possible. With the course of time cryptocurrency becomes such "aspect" as well. I guess we would have been more surprised if governments had ignored cryptocurrencies and everything connected with them.

Some tactics of paying taxes in any case should be because this is the only way to legalize cryptocurrency!

I think the same things as you and I think the government wants to know who is the people which have bitcoin so they can decide what next things that they can do with bitcoin user. maybe after this, we can see that the government will create regulations for bitcoin user so they can add taxes for the user to pay. with knowing the bitcoin user, I think the government will easy to check and know which people that have a big number of bitcoin in their wallet.

Europe is changing everything, they want control, Europe is trying to find ways to control electronic money and track all transactions. That simply destroyed the whole sense of independence of blockchain technology

They are trying to identify and control Bitcoin users, Bitcoin right now it's not easy to find swapped / converted transactions and it's "earn money."

This is not new though. Government have been doing this. This is wwhat KYC is especially with exhanges

Lol! Are you a big fan of your government? I find it funny when people after hearing propaganda make such conclusions. Where does the government care about the welfare of its citizens? They are only interested in their own income and luxury. They are ready to take away the last from you for the needs. It is impossible to ban cryptocurrencies, they will take taxes from you.

Such things are happening all over the world, the overnment wants to track us, they explain it as for our own safety, but I'm pretty sure that there are other reasons behind this "care". We simply have no choice, besides to accept it or to move on cash.

It's normal thing as long as crypto still survive. It's also needed for some measurement to see how much people love on crypto trading although as we know ,crypto trading is risky thing unlike stock trading.
Even if I must put my KYC on their exchange, as long as they trustable, it's not a problem !

That's very sad to all of us in the crypto community. But one thing I have realized is that fr us to make sure governments keave us alone for us to enjoy our cryptoecosysytem benefits, we'd have to surrender our anonymity to them.

What are you afraid of being taxed? Tax could help the countries economy financially and despite of someone using crypto to trade it at any exchanges they were just using the real money then. So, what's wrong about that? Except if you use that money in any illegal activities perhaps someone wouldn't want to get expose already if they were wanted by the government.

As long as the crypto currency is not ban in your country, you just have to obey them for what it is best for everyone.

I think this is another version of KYC to impose securities by ensuring that people that involved in crypto investments are all legal. I don't see anything wrong about this new policy that as long as you are a legit person that there is nothing to hide then we should embrace this with arms wide open. There is nothing to worry about the Bitcoin tax too, like France and Germany in which they already imposed less to no tax at all which both are European nations.

They want to know who does what and how much money in circulation.  Europe wants to earn everything and get its profit.

In principle, there is nothing bad in this, the States probably seeks to recognize bitcoin and this will require KYC!

Every government wants to take control of everything including Bitcoin.  However they can only go as far as regulations. Where in they can require tax from every bitcoin.  But regulating is better than fully banning Bitcoin.  Thus,  having tax is lesser evil that totally not earning from it.

Taxes do help with the economy in every country, thus government just doing their jobs because it seems that most people knows how to get a money from crypto currency and exchanges started it all that's why they have to adapt to the massive invasion of new digital currency.

Many die-hard crypto supporters and enthusiasts will not see this as a good sign, all because cryptocurrency was set up alongside the main feature of anonymity. But the game changed when these new currencies started influencing the already "mainstream" currencies existing; thus influencing the financial industry. And already in the financial industry KYC already existed; so it should come as no surprise that the European governments are implementing this to bitcoin and other cryptos out there. At least the positive thing is that these governments are beginning to accept the idea. Meaning the the use of crytpo for everyday transactions, will become much easier soon.

It seems normal to me whenever the government wants to get information about its people when it comes to investment and trading. If we want to spread cryptocurrency frome nation to nation, we should understand that the decentralized system will have a centralized counterpart depends on the country.

Every regulation keep advance on something new but as long as it's for people and the state's purpose, I think I don't have problem at all.
I know crypto should be anonymous but as we already aware, cryptocurrency already categorized as risky investment so the government have no choice but they must put the KYC regulation on it

Its not a new thing not only on European country but i believe most government do have this kind governance when it comes to gathering informations into things not only to crypto but on other traditional things as well. Not really a surprising thing and it is somehow anticipated that sooner or later most government would end up to take the same path but i agree on the thing that its much better that they do reconsider to accept the idea of crypto rather than on totally on banning it.

Most likely this is also true, because the first steps to implement bitcoin in the state apparatus!

Europe is now quite often subjected to terrorist attacks, so it is logical that in this way they want to protect themselves. Terrorism always leaves behind material traces, so it must be fought, including by monitoring its possible funding. Therefore, Europe wants to be sure that there will not be such financing through the exchange and exchangers, and if this happens, it can be easily verified. In this regard, it is quite appropriate to identify all individuals who buy or sell the crypto currency.

The whole point is that crypto isn't offering any form of anonymity, unless it's specifically designed to be that, which is why it grants agencies all freedom to track people down pretty accurately.

If crypto was as anonymous as people believed it was, governments would have taken the necessary steps to prevent them from growing larger, which is something Japan is seriously considering right now.

All regulations and measures being enforced by governments aren't meant to tackle terrorism and money laundering and whatnot, but just keep you firmly within easy to control/observe circles.

This applies not only to Europe. The government of many countries wants to control the crypto industry. They are afraid of cryptocurrency and try to get power over it. They frighten people with their prohibitions and demands.

If the mass ever gets to the point of understanding that, governments as a whole are done. Empirical evidence however shows that if we by now (after plenty of decades) still haven't seen the mass change one single bit, they never will. It's fine though, we shouldn't waste time on people too stupid to understand that they are following the wrong path. The only thing that matters is that we for ourselves know what the right path is to follow, and I'm pretty sure that I am doing well in that regard. That being said, we can't ignore the fact that there at least is some demand for regulations to make this space a bit less scummy....

They need to find the way to just control what is happening in crypto cause for them it is to anonymus, for they attitude will be changing with every month so we will see what they will find out in future.

I think that's one very good step, because indirectly there will be data disclosure and can prevent the misuse of the crypto currency itself, such as money laundering, terrorist financing and so on. and the future crypto currency can be the currency of any country.

Most governments want to know about every financial transaction, especially crypto transactions. That means banks and governments would have no control over these transactions and they also do not know who is involved. They want centralized cryptocurrency.

I think this is good news, because European countries are beginning to recognize bitcoin as a legal commodity, so it is likely that in the future it can be a legitimate and recognized medium of exchange in many countries, and hopefully it can be accepted throughout the world.

I personally see this as a good development, considering the high level of scam that is so far witnessed in cryptocurrency. If this kind of compliance is not in place and enforced, people will gradually see cryptocurrency and exchanges in particular as means of perfecting criminal activities.

all countries will surely do the same thing as the European countries. if we want to transact in their country, they want to know the data of ourselves and all activities of our transaction. to keep their country safe from strangers and safeguard the security of their economy.

Yeah, weren't there some high profile arrests not too long ago with the silk road? Or some other criminal network that operates in a similar way. But these arrests basically proved that bitcoin is not nearly as anonymous as everyone thought it to be. Not a big surprise, honestly.

The way I see it, the governments are pushing for verification because they want to be able to catch the tax. So the first step, logically, is to collect names. Then declare tax obligation, and offer amnesty to anyone who declares their income. Of course, if they did it the other way around, everyone would just cash out and flee.

Any state wants to receive more taxes, duties, etc.in addition, Europe is known for its huge bureaucracy and this also affects the regulatory process. But there are no plans to collect taxes in cryptocurrencies yet... If there is a tax, then in fiat money

On the one hand, this is correct, but bitcoin was not designed to let everyone know who you are.

All governments scarce from the perspective of Bitcoin. They think is that they can control the terrorists in all over the world. But people want to be independent of them.

If there are financial monitorings from institutions (I mean transactions  up to 30k) I think it doesn't mean absolutely that they will humiliate your constitutional rights,In particular your property right,more importantly if the idea of financial monitoring is to protect society,why do they make things differently?
I know,we like and love the idea behind pseudoanonymous/anonymous things,but at the same time the main thing in this situation is to compare the risks,which is better anonymity or safety.

actually the step in the European countries is a very good step, because in the future the possibility of kryptocurrency currency will be recognized and will become a legal currency, so bitcoin holders do not panic because with the tax and they know the business actors who use digital currency and they will certainly strongly support their legality. with the exception of criminals who used to keep their ill-gotten money in bitcoin, they would think twice about abusing the system.

I don't know  if this  will help  bitcoin bitcoin more trust worthy or it will jeopardize, in positive outlook we can say that the investors will be  protected from scam, but  in the other hand it will broke  the essence of anonymous and decentralized  because that what bitcoin and blockchain technology  intended for.

Well, this has made debates among crypto merchants, on the one hand, this is no problem for honest traders. But on the one hand, this makes uncomfortable for those who want to keep their anonymity. Even many say this is contrary to the original nature of cryptocurrency.

soon, every country wants to know who we are especially there is more country that will accept cryptocurrency and the governments wants to know who is behind the owner of every coin. and after this is applied, they will make regulations to the crypto user and maybe they will apply the tax too so the crypto user needs to pay a tax because of we get some income from the crypto. but I don't take this too seriously because I think this will not happen in the short time especially there are many countries that still learn and think about the crypto.

Governments all around the globe do this constantly.

This is exactly how they work, they like the cash, they need to impose you, so they need to thoroughly understand your exchanges. Bisq is really solid in the EU zone however, as an entirely P2P trade the level of protection is high, particularly since it keeps running over Tor. This is exceptionally typical. At the point when government consider bitcoin as a stock or item it will require everybody who contributed on a KYC and AML necessities. This is certifiably not a terrible news since it was even required to the stock trade and on managing an account organizations. This activity of requiring bitcoin such necessities is an indication that bitcoin is as of now perceived by the state as lawful and can be utilized inside its region. I likewise trust that its an uplifting news on the grounds that by this activity, government acknowledges bitcoin as a benefit and enables its resident to get required with it. Its typical for the administration to require your data so they can guarantee that their subject does not utilize bitcoin in unlawful exercises nor utilize it to tax avoidance. This is the thing that KYC about in any case, particularly with the trades. I think Some nations are presently paying assessments through their benefit in digital currency in US for example. More controls will occur later on, we truly need to manage it. I believe it's a win truly, if the Government gets more data on you and is glad on the off chance that you pay imposes in crypto it implies it's a strong bit of innovation and won't be prohibited or excessively directed so they keep on receiving it with the information. Its not just Europe that needs to know every little thing about you. Your own nation, your manager, your folks, your kin and even your life partner. Every one of them need to know every little thing about you down to what you wear, the onus currently falls on you on the measure of data that you can part away with any of the classifications without harming yourself on the grounds that the hallowed certainty is that the ones who has the most data about you have the most elevated opportunity to hurt you the most. Governments everywhere throughout the world are set on doing various things is the thing that one noteworthy reason they are against bitcoin and blockchain. The straightforward truth is that they couldn't do it through the secondary passage, so they are turning out to state their brain on what is happening in light of the fact that on the off chance that they had possessed the capacity to do it, we wont have any of the clamor about KYCs. Trade destinations likewise will be compelled to fall in line or else they close shop which a business person would not consider. The exit plan on the off chance that you are not happy in what they are asking, move to something unique.

Europe is attempting to discover approaches to control cryptographic forms of money and screen all exchanges. IN behind the inspiration is only for charges. governments need to control everyone and everything. Everywhere KYC is required request. I am confident that this is clearly about the assessments and finding of the crypto assets.that's all by attempting to put some charges on crypto exchanging and exchanges. This isn't only the Europe, every single country need to know your identity. The administration needs to know every little thing about you. They need to regularize every one of the frameworks from where a normal man profits and government put assess on them.

KYC? It is now becoming normal on some exchange and ICO project but it is annoying since you have to give again all your information and document to finish it...

I think Europe not only wants tax, but also controls who is in bitcoin, because when that person is suspicious they will certainly
monitor their transactions, this is a form of centralization and control of Europe for bitcoin, did you problem about that ?

it is possible that European countries do not want to control or to regulate bitcoin users, but maybe for the sake of security of bitcoin traders, it is done solely to prevent the occurrence of money laundering practices or the misuse of the convenience of transacting business, even with the arrangements in European countries the cryptocurrency users should be feeling safer and more comfortable.

If that's the case on Europe to every people such as business related specially project like ICO. This is the most certain assurance for the country to prevent any fraudulent action that other those thieves will potentially do to the project proprietor. Government will always impose regulations to protect the residents, and getting money from people isn't a bad thing as long as it will be returned back to the country's development.

Not only Europe buddy its so all over the World, think is to prevent money laundering and some people avoiding Taxes and so on . All the  plattform for minning and trading asking for kyc now.

True, this moves are only for our safety and to avoid any scams or problems which could happen in exchanging anything on market, for me it is not that bad.

Don't worry about rules, because every country makes regulations to protect bitcoin traders, and also the possibility of countries that want to apply taxes and want to control bitcoin currencies so that they don't become a place to save money from crime, so bitcoin owners don't have to worry and everything is only safe.

well, I think they are doing this to protect people of fraud, some government may  ask people  to submit their investors information in order to know who they are and thus are subject to tax. The government are doing everything to get money from people to also ensure that the economy runs perfectly for the good of its  people.

That is why anonimity or privacy is just a false dream in the world of crypto. What we can really get from using it is the transaction proof that happens in its blockchain. But then again I don't mind it because I'm not a  drug addict or sex offender that will use crypto for that matter.

   
tax implementation on the owner of bitcoin is one proof that the government recognizes and supports bitcoin, so do not panic, this is even very good news, the tax applied by the government is also balanced against the profits earned by buying and selling crypto currency, and can be ascertained in the future the upcoming bitcoin will be increasingly used in various countries.

This is good because this is part of the government regulation to ensure that only legit people are the one were using this investment and to ensure that it will not be use in illegal activities specially in scam projects in which they will use the crypto platform to steal from the people. As long as we are legit people so i think there is nothing wrong with this government regulations and we are oblige to pay the tax specially if Bitcoin was declared legal.