Bitcoin Forum

Today I was on a conference in Vilnius and went on a lecture about cryptocurrencies. I would like to share some aspects which I did't see so clear before. As we know, among those states which want to regulate cryptos, there are those which consider them as property and others as means of payment. The first approach is usually seen when there are tax companies around, because money is not taxed, but possession is. So when a state days they consider cryptos as property, it means they are getting taxed, while this is not the case with means of payment.
What do you think of this?

It all depends to the state where you are belong. This debate will never end that most of us treats bitcoin as traditional assets but there are people who are against with it. With the last G-20 conference, bitcoin has been classified as an asset so I guess every state will follow that declaration but they are also free to think of it if they don't see it as an asset, it's up to them.

To be honest I use crypto as an asset,  most of the times at least. But my opinion is that crypto should be used for paying and not holding. After all bitcoin is made to be currency and not asset. But governments will not accept crypto without taxes, so I guess taxes are maybe inevitable. At the end, opinion of common people matters little.

Everything has tax, including currencies. When we use them, we are obliged to pay the tax so it is literally the same no matter what. Crypto will still be taxed when it is considered as a currency, and it will also be taxed If considered as an asset. Nevertheless, I think taxing bitcoin will surely be a great help for mass adoption to occur(since it will be known by public when they announce tax regulations of it).

Possession of money mean you have it as your property and that entitled us to pay for our tax. As part of the society, tax is the first thing when the government want to help in prove the country we're in. So it is okay to pay our taxes than having the crypto banned.

Unless bitcoin becomes a more or less traditional "currency" (accepted by all participants of the market and as widespread as fiat money) it is logical that it is regarded as an asset to be taxed.
Most BTC owners still threat it as a way of speculation on its volatility (buy at dip, sell at peak in order to convert to fiat money).
If you still can't buy a cup of coffee using bitcoin it does not perform its main function as a means of payment so it should conform to the rules established for "property" in general.  

I think taxes are outdated because the authorities are no more using our taxes for the intended purpose.They are stealing our taxes to enrich themselves so I honestly do not support taxes now because of our leaders actions.The regulations on bitcoin is also against cryptocurrency which should change now.This is a free world so I do not understand why governments try to regulate bitcoin because they are afraid of losing taxes.

I think that conference which to regulates taxes for cryptocurrency are not been a final regulations to legally accepted which can base on what G-20 conference because it follows the international law apprehends for every country, and as now the decisions of G20 bitcoin is been classified as an asset so I guess every state will follow that declaration.

I don't see anything wrong with tax as long as the tax rates aren't exorbitant. I however have to point out that if crypto holdings are considered property, it doesn't mean that just by paying property tax you're done with it.

I personally am subject to 3 different tax categories when we talk about property tax. It also makes a significant difference when you compare short term gains with longer term gains.

It's a complex system that in the worst case (obviously depending on the country and state), will cost you close to 50% with how everything adds up. In the US this is the hard reality already, which is pretty insane.

Many countries are making their own regulations about cryptocurrency and the main purpose is to collect taxes. There is no final statement about cryptocurrency here in my place buy I know it will happen soon. Regulations is ok for me as long as the regulations is transfaren.

It's a pity because Satoshi Nakamoto clearly envisioned a new currency (not an asset). Sincerely, it is fair to consider it as an asset right now but only because of the crazy speculation around it. When mass adoption occurs, cryptocurrencies will finally play their original role, but the tax offices might never consider them back as currencies... So we will probably pay taxes for holding cryptocurrencies while we will never pay taxes for holding a stack of banknotes.

Crypto currencies are difficult to categorize, they have traits of currencies which can be utilized for the purchase and sale of goods and services. They also have traits of equities or commodities. Then there are traits of crypto which are similar to gold and precious metals in terms of having limited supply and limited production.

The best way to close this debate, I think, is to create an entirely new class for crypto currencies where crypto is taxed at extremely low rates to best fuel economic growth, create jobs and otherwise reverse negative economic trends we're witnessing in many places. Deregulated and decentralized crypto is the best option for everyone, in my opinion.

Many analysts are attempting to put bitcoin into asset classes where it doesn't perfectly fit. Its like trying to fit a square peg into a round hole. The best solution is to create an entirely new asset class.

Every financial transactions is taxable. I think, the government should take taxes of the crypto transactions in their country.

It is a currency so taxes would be charged depending upon where you live in. However, the taxes are charged in US and Canada are on capital gains that you get from bitcoin/cryptos. So you have to pay a tax only when you cash out. You don't get taxed on your holdings.

Finally someone thinking like me. I am not against taxation, but not in the way we as tax payers only serve as cash cows for the government. I am seriously done with that -- the worst part is that people aren't subject to tax once, but their entire life when it concerns the same amount of money. It's pure theft when you are being taxed every year over the same amount of money. It's a system where if you don't do anything to up your fiat wealth, the constantly returning taxes will empty your bank account within a few decades, and that process speeds up significantly when you also calculate how much value your fiat wealth is losing year after year. In all the years that we as brave citizens paid out due taxes, has anything within your state or country actually improved? I only see everything go backwards instead of forwards....

Well it depends on how the government look at crypto, crypto was meant as currency but in reality more people are using it as assets, so when the government state crypto as asset it is not a wrong judgement, but I believe it should be treated as currency because the main purpose of crypto being created was as currency, for me taxing crypto is not a problem but the government should go easy on the tax percentage

I think about cryptocurrency is a digital investment tool not as an investment tool in the form of property. Digital investment is not taxed as is the case with a taxable property. Bitcoin can not be used as a means of payment due to its volatile nature

Just to calrify, its not the property or asset that is taxed, but the gains made through these assets are taxed. This is termed as capital gains. Capital is the property that we own or basically our assets and the gains made by use of such capital is the amount that we earn aa profit.
Even the money that we deposit in banks can be taxed, but not directly. The interest that the banks provide is added and this interest is taken as capital gain, now there are different tax slabs as to how much tax is to be implied on what gains. Accordingly either our gains/profit is relieved of tax if its below any existing tax slab, and if it falls under a certain slab then it is taxed.

Similarly, bitcoin is seen as an asset because it has a apprecative and depreciative nature i.e. it changes its value with time, actually more frequent than other assets. Thus the gains that we make through simply holding bitcoins  comes under our capital gains.

But all of this is calculated only when we try to convert our bitcoins in local currency. Because that is when the actual money comes into play and so does the taxation system.

The government has the right to ask what is due to them as it is clear in the government code that every citizen's of the country should pay taxes. But here in crypto we need regulations to move forward and gain the mass adoption.

Actually i have no issue about taxation or neven been,because i believe that this is my obligation being a human that earns in this side,so i dont really care on how and what i will be paying tax whats important is why would i pay..

And if we will only check our government bylaws you'll find that paying taxes is our obligation everytime we earn enough amounts to be obliged

I think the government has done it right, because Crypto is making a lot of money for many people, not just a payment method.
Many became billionaires thanks to the development of Crypto such as Vitalik Buterin (founder of ETH) and Changpeng Zhao (founder of Binance). So I see Crypto as a new market and bring a lot of profit to everyone. So the imposition of taxes is correct.

As what have stated previous replies that it depends on which country you are there because there are some countries that quiet putting any taxes on bitcoin holder so we consider that depends on what country you are. Luckily here our country we are free of cashing out our money from bitcoin without deducting any tax only have tax when we buying goods.
Yeah property, just like we store gold for a long time and that is considered that in bitcoin is a great property that must have a taxation.

Cryptocurrency is still so young that is why there remains to be a big debate on how to view or treat it from the prospective of the taxman. Of course, the government though reluctant to recognize cryptocurrency they are very much interested to have a slice of the tie by imposing taxes. Eventually, Bitcoin will be treated more as a currency or money more than an asset as adoption will slowly be creeping to the general population...though the road to get there can be rough and there can be some confusion sometimes. 

Taxes is what government wants from all the things that derives profits. As government require money to bring new schemes and to maintain and develop all the projects they also want new revenue source of income and crypto currency could be one of them provided they accept them.

'Though money is not a property, it can is earn through our personal effort and every earning we make is subjected to pay on the government if it is under the authority of government, but since btc is decentralized, taxes is not applicable so whether it is called a property or money that doesn't matter.

The government only sees cryptocurrency as a source of income. They judge if all forms of income should be taxed like working in a company and others. But to keep in mind we should be aware of such thoughts, I and probably many people (users of cryptocurrency) just make cryptocurrency as a source of income, and few of them only use as a payment system. Actually it does not depend on the government alone, but we as users should be aware if cryptocurrency used as a source of income we must try honestly and pay taxes.

It's normal, Governments always wants to get its share. Government as an entity isn't much interested in anything else.
Now, how they spend this depends on:
1. Whether they collect money only to provide for themselves, as in my country, or:
2. They collect the money to provide for the benefit of the society, which should be the purpose of the Government.

In the latter case, I hold nothing against them taxing anything.

About your question - Bitcoin shouldn't be considered a property. But that is only my opinion.

I am not sure if it is really about property vs means of payment. Think about fiat: When you hold a currency in your bank account and you receive interest payments you will have to tax your profit. This is at least the situation in my country. Also from a legal perspective you first have to own cryptos before you can use them as a means of payment, thus becoming the proprietor of the coin. So the two are not mutually exclusive.

I think it's true that crypto should be taxed because income from this crypto is big. If money in my opinion is private, maybe only certain countries are taxed. Usually taxed are high officials or civil servants.

But bitcoin is not a property it is just a currency so we need to consider it as a currency if we change the property of bitcoin for someone's benefit then bitcoin may not last long as it could be.Even if it consider it as a currency still governments will get benefit but still it is hard to categorize and hard to regulate so its still the governments and politicians need to make decisions in this case.

Yes most of the countries consider cryptos as assets so that they could be taxed and not willing to recognise then as currencies as they might not be helpful to them for taxing.I would say that even if that even if they consider it as asset for taxing,even that would be far better from totally banning it or declaring it illegal.Even by this way,bitcoin would get an entry point for getting used widely.

It is fine as long as it is not an abusive regulation and overtaxes it means that they acknowledged and legalized the crypto asset with some restrictions to avoid theft and fraud, it is better than to ban the usage and trading of this assets and currency, anyway, they can't tax wallets that you own private keys as long as you are not using a local exchange or cashing out you are just paying for the miners fee for the transfers.

Taxes for farmers are unavoidable in almost all countries, and I think that many people bring contradictions to the government, but many investors and private businesses do not generate revenue. So many people have to pay taxes to the government.

This is true only to an extent. The governments do steal taxes either to enrich themselves or to consolidate the grip by raising the salary of the police and the army. But not all the taxes are being stolen. They do build public schools and hospitals, and the police not only protects the governments from their people but also protects people from thieves, mobsters and terrorists. So, if you want to live in a civilized society you have to admit that the taxes are necessary, regardless of what Murray N. Rothbard taught us to believe when we were young. :)

Even in my country, everything that could adds up to my wealth and increases it will be taxed. Bitcoin taxation is not a new thing, when you trading bitcoin, it will be also considered as income and it dcan be taxed aswell.
So basically, just pay the taxes and obey the regulation, if you don't want to get the bad consequences of course.
However there's some country that taxes bitcoin directly through exchangers, for example, japan.

That's right I do agree that it is good to have taxes because as far as I know taxes are usually use for enhancement and to fully development of our economy. In having taxation in crypto let just consider that we can also help others in that way and maybe all of the people connected to crypto will be much agree to this when the taxes that subjected to it will be reasonable for us so no one will objected to this.

Government collecting taxes on bitcoin trade. If bitcoin as an assets, we will make trade with others and thats means we make profits and as far i know, that profits are taxed by government but maybe i am wrong

If you want to invest, this thing is really important for me, you can see the responsive people behind ico here, beside that there are so many informations that you can get here of course. You don't need to regularly take a peek at the website to get information.

That why we need to declare things as our own, declare that you earn some $500 worth from crypto trading and online investing then you pay tax if there is so when someone notice your savings and they know you don't have work then you can just show your declaration or tax exemption on trading and you'll be safe to any large violation.

If bigger government, higher taxes, larger subsidies, more regulations and double-digit minimum wages led to better middle- class ...

Do you think we should pay a bitcoin tax? Bitcoin managers should also have strict rules to ensure the safety of users. Bitcoin also means that it is legitimate income and a valuable asset.

You should check law in your country.
Every country have different laws and regulations.
For example, in my country, btc is not recognized as money or financial asset.
So, I don't need to pay bitcoin tax but if I echange my btc tax to my local money, than I have to pay tax.

This is because these states see crypto as an asset and not a currency. Not many people use it to buy and not many merchant accepts it as payment. That is the reason why these states are setting up a regaulation to tax crypto. Because all assets are to be taxed. That's why if we use bitcoin as a mode of payment, these will not be taxed.

Actually bitcoin could not be a property and will never be, if we dig it personally currency is about money not a property. I believe the very reason why they want bitcoin to be declare as property in order for them to get some tax from it. And I think government is driven by the force of greediness, thinking that if they can manage to get tax from it, this could be their another source of income.

Taxes can't become outdated, because they are necessary for stability and quality of country. There are corrupted governments and we are all aware of that, if that is the case in your country... than next time try to vote for better leader I guess. But no matter how much we struggle, regulations are coming and honestly I think that they will improve some things for Crypto. Because when governments start to regulate crypto, it will mean that crypto is totally legal for using. And many of those people looked on crypto as something that is illegal or fake, they will change their view and many new users will join. There are other reasons why governments want to regulate crypto, and criminal is one of them. I guess that government's problem with regulating crypto is not as simple as we think.

It depends on the government what are the regulations and how to collect taxes in Bitcoin because transactions are done through internet and theres no tax to be collected unlike working on government and private establishment that they are oblige to pay their taxes.

Youre not only helping others when we pay taxes were helping the country and mybe the world..

I dont know why most of us here re threatened by the government issue to have pay their taxes..

But if were looking for the brightness of future well we must consider that tax will give opportunity to all the government to open their door to crypto and we all will benefits from this

Even if that's not in propery category, it still struck by tax, produce tax. And this is that still being polemic in some countries because there's no rules yet or law that push on crypto. So the accepted is still pro and contra.

I am not concerned about cryptocurrency users to pay taxes if the government does require users of cryptocurrency. But the question is, what is the function or contribution of government to cryptocurrency? If it only legalizes as a means of payment I think the cryptocurrency user does not want that.

I agree with you, the payment tool is not worth the tax. I have never heard that a person who has money is required to pay taxes unless he is through the process of working in one of the companies in that country. But cryptocurrency, we work in cryptocurrency, not through the government at all. I'll agree if the government requires paying taxes to users of cryptocurrency provided they have to give a positive contribution to cryptocurrency, that would be very fair.

very big problems with this right now, there is no any modern laws in our country about crypto, so i dont know do i need to pay taxes when i cash out,because  i cant really explain how i got this money. i hope crypto will be regulated for such problems, i can pay taxes but i should crearly know where and when

Most of people use crypto as an asset. They hold it or sell for real money in case they want to buy some goods. That's the problem, basically, that currencies do not often function the way they should. In fact, many altcoin projects are actually even far from being means of payment. I am talking about blockchain projects on recognition, mobile mining, music mining and stuff like that. They are just monetized blockchain start-ups, not currencies.
As for the govs, Switzerland is accepting cryptos and treats them as currencies, not assets, so they're not getting taxed.

Bitcoin is mostly seen as possession so it is taxed but I think in the future it will be rather seen as currency and there will be no taxation, it might be about its extreme gains against usd.

            STEALING TAXPAYERS MONEY IS HUMAN RIGHT ABUSE
I know countries that have death trap as roads,schools under trees,graduate unemployment,extreme poverty etc but the politicians ride in the latest V8 landcrusers,long convoys ,stealing tax payers money and store in foreign accounts and do all sort of atrocities.When it is time for elections,they will promise the electorates heaven on earth just to get voted into office again.Politicians live in affluence and their neighbours (taxpayers) eat dry bread.It is high time we stop this tax matters.Our taxes are not used for developments anymore so no more taxes.Did God not create us equal? why then do we sit down and allow a few people to waste our hard earned money like we just picked the money on the street? Let us think and arise for this is a form of human right abuse.But the same politicians will preach against human right abuse.Not using tax payers money for the intended purpose is the highest form of human right abuse.To me they are like vampire drinking the blood of patriotic citizens who really desire development for their countries.

how can bitcoin be taxed?
and where does it happen? of course bitcoin will not be taxed because bitcoin is in fact not in the control by the tax authorities

If its mandated with the law we have nothing to do but to follow. I see a good thing in taxation, I just hope that it will go to a right place. Regulations might be hard in cryptoworld, but that is ok for me instead of banning us from using cryptocurrency.

still those problem always being a topic for every goverment in all country to regulation or some of that, in my country bitcoin are not accepted for a transaction with it, and just accepted for the investment or a valueable asset, and still doing some research to begin as a payment

There is nothing that we can do against it.

That is why i like regulations, it is safe and good for all of us, at least, it shows that our governments are taking in consideration that there are a lot of scams over it.

I prefer to have bitcoin regulated, but without taxes.

Actually, it's not a currency yet. "Cryptocurrency" is one of the most famous misnomers these days:
Since it is not currency, it needs to be put in some class and most of the governments decided to put it in the "property" class. All I can say for sure is that it can be considered an asset the same way as a stock is. That is why most of the coins out there are actually not the coins but tokens.

Yes some taxes and regulations are very good to maintain the price and standard of bitcoin and other crypto currencies so my opinion is something is important to develop crypto currencies.

I think about tax and regulatory issues there should be a discussion through ownership of bitcoin forums to find out the reasons why taxes and regulations should be applied.

States and countries have different tax and regulation laws.

Whatever it is, all cryptocurrencies will lead into regulation whether we like it or not. If countries or states are unable to regulate crypto's it will be banned eventually.

It is maybe because people as of now see it as an asset, and as far as i know, cash is centralized that is why it has to be taxed when it is in ones possession, and that is the difference of bitcoin when it is a currency, nobody would put taxes on it while you have it, but differently when you use it as a payment, it is common that they will implement tax for each and every transaction made.

At the summit of the "Big Twenty" so far expressed a preliminary opinion that the crypto currency can be recognized as an asset, but no decision has yet been taken.
If the state recognizes crypto currency as a means of payment, then in this case the crypto currency may be taxed. We can see this in the example of Japan, where it has been recognized as a legal tender since April of last year and is quite successfully taxed. In Poland, for example, citizens were obliged to fill out a separate document for each transaction and then submit them to the tax authorities.

In my opinion. It is mandatory with the law, so be adhered to and followed. I see a good thing in the tax, I just hope that it will go to a suitable place. Regulations may be difficult in this market but that is ok for me instead of forbid us to use electronic money.

Taxes has become one of the main reasons why politicians want to regulate or stop cryptocurrency from spreading throughout the world as many will lose their main source of funding. But taxes are outdated now maybe we should look for another way of raising money for the development of our countries.New ways of raising money will be better than tax.

All countries have their own laws and regulations, as bitcoin can be regulated everywhere the same, if someone does not want it to exist on the territory of the state.

For me it is just up on the goverments in countries cause in some way if crypto will become more popular than now in most of the countries it will be so hard for them to "earn" anything from taxes like they are "taking" from normal money so some changes in law/ taxes/ regulations need to be done in coming time if this crypto world will be developing that fast.

I agree only if the government can run and manage the collection of taxes and penyalurannha well, because if the government imposes a tax on the crypto currency means the government has recognized and legalized bitcoin used as a means of transaction or investment commodity

Even if they consider it as a mean of paymet,there will still be VAT or TVA.Honestly I prefer that countries tax cryptocurrency rather than banning it without making the effort to know what is all about.Also there is some countries that doesn't even tax personnal assets as long as they are considered as "not high risk taking investments" in other words you shouldn't put all your money on it especially if you have a family,their priority is to make sure that investments doesn't interfere with standard "meet your needs"

Paying taxes also serves as a good citizen , crypto currency is an asset and tax should also be imposed and this is the reason why some governments are against crypto because of this tax issues and regulation but for adoptabilty and long term goals of a cryptocurrency abiding certain government policies and laws is a good start to be recognized as legal assets and legal tender.

Imposing tax on cryptocurrecy depends on the the state or government. Until know, theres a confusion whether crypos are currency or an asset so adding tax on it is still a debate. But there are some countries who impose tax on crypos. See the link below.
https://coinsutra.com/tax-free-bitcoin-countries/

I think the state tax requirement is natural. Something that is likely to be banned, and the only demand taxes, shows that it is not against it. Tax companies may be oppressive in this regard, but ultimately the state will set a reasonable rate. Tax will be charged even if accepted as a means of payment.

If seeing and classifying Bitcoin as an asset and then imposing tax on it is what it will take for the whole world to adopt Bitcoin as a legit means of payment so may it be reason been that no matter how good a product or technology may be it will be useless unless  it is been accepted and put into use, and Bitcoin is no exception to this rule.

when they make tax on crypto, it mean government accept crypto. this mean when crypto accepted by country, they must pay for crypto, because this is asset digital. they can ask about tax to people, but they must have transparent regulation. maybe, is there in some country, the government make tax until xx% from their earning. and this xx% is too high for us, and they never show the calculate about whereof this value obtained. so, its like they just make tax for formality without know, that is good decision for us or not.

That is right but it will still take a lot of time for the local businesses to adapt to and start trading for crypto. Besides, I somehow do not like the tax thing in crypto because the government could also impost the progressive taxation which will rise proportionally with rise in your income.

Ultimately you would not be able to earn as much as one would earn in a country with no restrictions on crypto and not tax at all. This is something very important because if the government makes policies, it will make it keeping in mind its own interests only.

Why those people afraid of giving tax that I think that is a small amount only to be paid. Besides, it will help the country development and that tax you have paid will contribute the developments and I guess that is not for their own interest. But this depends on which country you are, well, luckily here in my country paying tax on cryptocurrency was not implemented.

in my opinion, I disagree with the regulation if bitcoin or crypto are used as ownership, but this is not completely correct, because what if another bitcon or altcoin is used only as a means of payment or a sale and purchase transaction, if there is tax, the nominal will differ. addressed if it is used as tax rules and so on but this information is very useful and I say success for all of us

Some countries forbid it because they still do not have a special method so that crypto and the state can benefit together.
some countries legalize crypto because they already have mutual benefits, such as giving tax to crypto users...

I am not against tax but it is a big stolen. Taxes But how tax is paid every year, it is a big stolen. And to pay tax on bitcoin .. It will go into the hands of the government and it will not be asked by the government to give it its responsibility.

I think any transaction involving payment of cryptocurrencies should be taxed but it should be lesser than using money. The purpose of taxation is to put some regulation and monitoring on the governent side. This will give more security on cryptocurrecies.

How can bitcoin be considered a property, in my opinion it's wrong, bitcoin is possession, so there is no need to be taxed.

Governments will do anything to try to make people think that bitcoin is not a currency and if they can obtain more money out of it then even better but what they are not understanding is that many people are not going to be as cooperative as they think, the people that have invested currently in this market are not your average person, we are not sheep that they can lead wherever they want, many people are going to actually resist any movement made by governments to try to regulate the market.

In my opinion. cryptocurrency is not an asset because if it is referred to as an asset the value for the asset should not change rapidly and fluctuate. I prefer if cryptocurrency is considered a currency.

In my country taxes on btc trading was the same like property trading .Like a effect people had to pay more taxes than they  have earned .But our bitcoin group is very good they have found it is against our constitution and now we have no tax on crypto currencies trading
Gov greedy was punished

My biggest hope is that one my country will, and I'm pretty sure that they will eventually, put cryptocurrency under taxation, they will not make a taxes really hard to afford for us, so we will be able to earn from a character currency.

In my country, taxes are regulated
Exported products are processed from natural resources and minerals which are directly exploited and treated by business establishments or other establishments which prepare and then transform them into other products. For export products (closed process or establishment of workshops or processing plants for each stage), such export products shall be subject to the value-added tax rate of 0%
Exported products processed from raw materials other than natural resources or minerals (processed into other products) purchased or processed by business establishments or other establishments For export products, such export products shall be subject to the VAT rate of 0%
Exported products are exploited natural resources and minerals not yet processed into other products or processed into other products, but the total value of natural resources and minerals plus energy costs account for 51% of the production cost. More products are prepared from natural resources and minerals; Export products are goods processed from natural resources and minerals with the total value of natural resources and minerals plus energy costs accounting for 51% of the cost of production of products or more not subject to price tax. Increased amount.

Actually, the purpose of regulation is for the government to have the ability to monitor the space and taxation is just one other added benefit to them to get back from capital gain. Taxation is not a problem as long as it is being used for something tangible and for the development of the country at large, but at the same time, it needs to come with some level of leniency so as not to sprout rebellious actions in the mind of the users of the space in the long run which leads to evasion of taxes apparently, be it as a currency or as an asset.

in my opinion they will not be able to regulate crypto completely, my country actually prohibits the use of crypto for transaction tools because they fear illegal transactions will occur, but until now there has been no firm action from them, if they want taxes then I don't mind paying them as long as they accept crypto.

When the state was born, to have money to spend on its existence and its activities, the state set a tax regime for residents to contribute to the formation of their monetary funds. All government activities should have the financial resources to spend (first the state apparatus); The first source is tax revenues. A taxation is an essential tool for the government to intervene in the functioning of the economy, including internal and external trade. The government provides public goods to citizens, so citizens should support the government finances (so in Vietnam and many new countries the term "tax obligation"). There is a difference in income between the groups of citizens and thus the difference in living standards, so the government levies a portion of the income of the richer and shares it with the poorer (through the supply of goods). Public). Governments may want to restrict some of their activities (for example limiting traffic laws or restrict smoking, limiting alcohol intake), taxing these activities. The government needs expenditures for social welfare and economic development.

yes you are right cryptocurrency should never be able to be used for taxation, taxes can only be used when sending bitcoin only and it is not tax but shipping costs and transaction fees.

There are some governments that understand very well what it is at stake here, their own survival in their current form, but there are other governments that are not seeing this and they are just trying to charge huge taxes in cryptocurrencies because they see it as just another market from which they can extract resource,s but now they are realizing that it is not going to be as easy as they think because after all they do not have a way to force the bitcoin holders to pay their taxes.

Why do they even want to collect taxes.  It is not right.

Yes, I've heard that, sometimes regulators will regard bitcoin as an asset so bitcoin can be taxed.

I wonder, is that the right step, or even this will cause a misunderstanding about the main purpose of creating bitcoin as a currency.

I think we should start making it stronger slowly and gradually. There are people who favors bitcoin and its regulations and there are some other groups too who opposes this with much aggression. So better is we would let this matter to be solved by governments. Although we couldn’t just hope better from our politicians to think positive about us but still, let’s hope.

For me right now it is a property. However I want to see cryptos mass adopted in the future and be a way of payment method.
I believe both will exist in the future with a new fork separating these two categories or a new technology that will bring the diversification of those two.

From the moment that I've learn cryptocurrency community and read some thread about taxation issues and from this i believe that every profiteering requires tax since this is a every people's obligation to their country

Whats the problem here is how would this be implemented and how much it cost or percentage from every earnings.so let us be open about this guys for our own benefits because we cant win over governments

in each country have different policies about tax, in the country money and property are taxed but bitcoin is still not legal so bitcoin is still not taxed, I don't mind the government imposes a bitcoin tax if it's used for the development of the country, because in my country has a lot of corruption

Why this isn't right thing? We are asking for legalization of bitcoin but we aren’t really ready for paying tax. When you get safe thing from government then why not to pay for such safe thing. We should move this thinking out. Government is giving you best facilities so you should embrace it with much welcoming way. Taxes are okay if obtained results are good at the end of day.

talking about the problems that are happening right now and it is always talked to every government. and in most countries with regulation or some of them, in our country a bitcoin is not yet accepted but as far as I know someday the bitcoin is open to all its regulations even though it has been gradually beginning for a transaction with them, and only begins for an investment or a good asset, and also for those performing other tests to begin as a payment obligation.

actually it is bitcoin spent that are being taxed and considered taxable, but possessing bitcoin is otherwise, i think that is simply what they are trying to say, it is like having money in your wallet, every penny gained from service is taxed and shouldered by the people who paid you, same as salary though, salaries and wages are subject for tax depending on the country you belong, but possessing money that was passed on to you virtually is a different thing since there are no existing law that deals with virtual currencies yet.

in my opinion the taxes and regulations for cryptocurrency are not very important and cryptocurrencies like bitcoin will never be able to give taxes to the government and will not be subject to regulation from any country. bitcoin is the safest solution for transactions and anonymous.

There are countless  obligations and regulations that goes on in the taxation system. To some people, taxes serves the country with numerous job creation avenues. This taxes help to take up projects in the society or country as a whole

I hope that more and more countries are making regulations about bitcoin like Japan, now the Japanese government feels great benefits because many of its citizens pay taxes from the income of cryptocurrencies.

their income from cryptocurrency maybe very big amount.and if all goverment implemented same policy, they will get taxes like japan.

that's wrong opinion i think.personally tax policy will make new investor come.they will feel comfort about new regulation that allow goverment attrack taxes from market.

if there any tax for crypto, where it will be distribute to? because tax usually refers to the area where the taxes and regulations are made, and aso for what the taxes are made for crypto?

in my opinion, the government is currently trying to make regulations by imposing taxes to seek their own benefits from bitcoin holders, for me taxes for bitcoin transactions are not a problem for me but, must be with clear rules

For me, I agree if the Government will charge tax on bitcoin and set about cryptocurrency though this is contrary to the nature of the bitcoin decentralized. because lately lots of ICO that scam and of course this make the investors suffer losses. So by regulation of the Government I hope the world of cryptocurrency will be more orderly and save.

I think I'll view crypto currency as an investment or stock since in this part of the world, we don't yet see crypto currency as anything so we are fairly neutral about it. But what i do when I'm paying my taxes is to not cash out my crypto, because once i did i will get taxed from those returns.

Cryptocurrency should be accepted as a legitimate payment instrument first, then follow the rules and taxes applied by the governments of each country.

I believe getting crypto currencies taxed is same thing as doing it over the stocks and bonds trading. They are asset and so as to crypto currencies are!! The tax is when you are trading something with buy and sell processes and having the difference between the exchange rates. This is because you are gaining something out of these trades and thus you must share a tax proportion to the government so that your income remains tracked and contributing. Crypto currencies are not real money as we know. They all are assets and nothing else so its no wonder if they are taxing it. I guess in my country the situation is something like this only.

I think as a means of payment will be taxed but it is not. And it happened in Germany, the government decided that bitcoin was recognized as a legal tender and not taxed, as stated at TMNews https://trademarketsnews.com/germany-recognized-bitcoin-legal-tender/

Cryptocurrency can be considered as a means of payment, but can be a means of exchange. Everyone has different opinions on this matter

For me each BTC accumulation is acquired at different USD prices and it varies time to time depending on which country you are living. This is the real issue that nobody is addressing this should not be taxed as long as its not being managed by the government.  In addition to this, there is no gain or loss when cryptos are exchanged since they are of equal value at the time of the exchange.

I think crypto currency is used widely now as an investment option, so i think the government should just tax it as an investment option. I myself think that the government should have a cutnon the piece of the crypto currency pie so that the government xan protect the interest of the hoders of crypto currency.

Taxes are good, no doubts about that because it is the means through which most of the development in a country is based on. Crypto users pay taxes indirectly through the exchange transaction fees. These exchanges are taxed in the end.
Regulating crypto makes it centralized, hence some benefits may cease to exists such as the elimination of the interruptions of third parties.

That's for security purposes why the authorities implemented it, but this wasn't general yet. Some countries has no regulations and taxes for cryptocurrency. I think some planned for regulations but not yet established due to some conflicts of crypto operators, who hasn't yet doing well on their business.

Capital gain tax! That is what I believe most governments will end up seeing it as in the long run. Taxes and regulation is something we obviously cannot run away from and the fact remains that government will find a way to benefit and at least control the space against any fraudulent activity that would probably limit the space from growing in the long run or create fear in the minds of investors from utilizing the space, so regulation will obviously be a welcome development, but I hope though that most governments will be lenient on the taxes.

how can the government cut taxes if it hasn't legalized it. most countries in the world in that position. maybe it can apply to countries that have legalized it, of course there are separate regulations

I don't see any reason why the government of the countries who are yet to legalized cryptocurrencies will regulate or place a tax on cryptocurrency not to talk of they trying to protect the interest of the holder of cryptocurrency. Unless, if those government are selfish type.

If crypto is considered a property and taxed, I think this will be a tremendous pressure for crypto holders even though in the future crypto prices will improve, because crypto is an invisible asset, unlike gold.

Well i don't think it's time for that yet since many exchanges are still not implimenting kyc's and it would be a little difficult to track anonymous investors. The problem with taxing it is opens up this market to government corruption which is basically what people in here are happily enjoying without.

In my opinion, if this bitcoin is used as a payment tool, then this bitcoin will not be taxed because something that is a medium of exchange is not a taxpayer, but if it is used as part of the investment, taxes may be used, because something that can increase the wealth or value of an item will be charged value-added tax

I think regulations for crypto currrency is hard to be implemented now a days. Taxation is part of the government policy, nobody could disobey this kind of law for this would proceed to the development of the nation.

They can not tax us. This is a decentralized market, and government is just a normal account. It can not control the freedom of the Crypto market. They do not have the power to control everything. So we can easily evade taxes by creating many electronic wallets.

In whatever official status the cryptocurrency does not remain, the states will still, if they wish, establish a tax on the use of cryptocurrency and the receipt of profit from it. We know that cryptocurrency is recognized in Japan as a means of payment. However, the government there has set a fairly high level of tax and is now going to soften it.

Countries which has no open crypto payment system unlike Japan, they have to convert it to local fiat in order to finally use their cryptos. And the govt. can then easily tax their citizens whenever they convert from crypto to fiat. Even if it is a decentralized system, the government will find ways to tax them and remember cryptos are not 100% anonymous, so the government will find those who will be evading taxes.

Taxes are funds collected from the community used by the government to finance the state. Every person who already has income must pay taxes. The tax calculation applies equally to everyone including the president, businessman or ordinary employee.

So in my opinion, even though crypto is considered a means of payment in a country, crypto holders also have to pay taxes.

I think indeed with the tax for bitcoin, indeed it will reduce the income that has been generated by people. because until now the bitcoin is in demand by many people, because it is not taxed.

With the campaign of denigration towards the crypto, governments have achieved their goal, that is, removing "average" people from virtual currencies.
Thus, they reduced the phenomenon - which will now take time to recover - and in the meantime have gained time to study a system to control the currency market. We'll see what happens.

I strongly agree, because taxes and regulations are the authority of the government with the aim of the development and prosperity of the people.
Without tax, the government cannot move the construction wheels so that the expected simultaneous effects such as a developing economy can be expected.
Therefore crypto must be taxed, but it is too burdensome so that crypto trading can grow.

By imposing taxes the cryptocurrency ecosystem will be more clear to people as it is right now too vague to understand especially merchandisers cannot implement crypto as a payment method easily because the regulation is unclear. I think that bitcoin is already taxable indirectly from the government. The difference that can be done is to be taxed upon a transaction which I think will be disastrous.

taxes from cryptocurrency market has good potency.i am sure cryptocurrency will contributed huge amount to government income source if they already regulated it.and they have to consider it.

not at all time's the tax can go from the development of a country . in most cases the tax will only go straight to the pocket of the government officials  .


tax cant help the crypto trading to grow . it can actually help lessen the volumes of trade because people will llikely exit crypto if they knew that it was being taxed .  can you imagine the charges ? tx fees + trading fee + withdrawal fee + tax = ???

Cryptocurrency is actually more suitable if it is referred to as a commodity like gold because indeed in my country cryptocurrency has been acknowledged and certainly taxes are obtained from the disbursement of one's funds

of course, with the regulation it will make many investors enter the cryptocurrency market, so the government can collect taxes from crypto, so that important regulations to increase taxes from the crypto sector

it should be so if the legality and rules of definite tax will also be used as a rule if indeed with the existence of taxes can make security and comfort in investing I think it will be something natural we will get into investing

legality that can make tax and government regulation if the state has legalized the crypto currency automatically and if the tax does not burden and harm investors I feel good to apply

I think that you can not take cryptocurrency as "property". This is extremely not reasonable. Cryptocurrencies are digital currency, money, and imposing a tax on money is accordingly silly.

As of now, governments consider cryptocurrency as "digital assets" that being used in investment. These digital assets are like gold where prices fluctuates based on speculations. These digital coins can be classified as property. Though we know that this is not the real purpose of the coins. The question is when can we consider these coins as currency? As soon as the application of the blockchain go mainstream.

If there is a state who accept crypto not just a means of payment but, also considering this as property meaning to say it should taxed and have central authority by the government. Once it has good results,  I think it is a great influence by anybody states to adopt crypto as well, particularly in bitcoin.

Perhaps coin can consider as currency when mass adoption happen or when all merchant accept coin as payment. In my country, cryptocurrency traded as commodity and perhaps its classified as property.

indeed I feel crypto in my country can be said as a property, where each of us transactions will be taxed, even though the amount is different to determine the amount of the tax

what are you complaining about guys ? crypto is already considered as a currency but many people use it differently , they use thier cryptos for investment  or for trading because they can see a profit from it .  about the regulation thing ,  crypto cant be regulated because crypto is not regulated and not hold by banks  .

Actually without even mentioning crypto as a currency, you can still use crypto as a currency right? the government can say it is a digital asset, but the most important thing is legalization right? so you can use bitcoin to pay for anything without fear of a ban

Governments always want to define, categorize, and catalogue the crap out of everything so that they can tax/control/permit/regulate/standardize the f*ck out of it.

So yeah, they will try all sorts of things to pigeon hole Bitcoin so they can decide how to tax/regulate/control the hell out of it.

Go ahead and try to tax it, you worthless pasty face politicians. You are only going to drive us to work harder at anonimizing Bitcoin even more.

I don't know if that will be a good thing.

We all know that because of the anonymity, even though Bitcoin is not fully anonymous, we can enjoy the financial freedom that I know a lot of people wishes in the past when cryptocurrencies are still not a thing. Also, if the governments will be looking at cryptocurrencies as a property, it means that owning some of them will be taxed by the government and I don't think that will be a good thing for most of the people that have their share of Bitcoin and other cryptocurrencies as well.

But no central authority for crypto currency particularly for bitcoin so how it can be regulated by countries.We don't have to pay any taxes for using crypto currencies separately because we already paying taxes for the thing we are buying and we will pay taxes for our income so asking for taxes still is like extra tax for using our money.

if cryptocurrency said as currency by government it will make new surprise for us.investors will feel glad with this announcement, but i think i would not happen in near future.they prefer consider it as digital aset.

LOl it depends on what government are you talking because each of them have own views and treatment to cryptocurrency.there are some whos just like what you've said as digital assets and there are some who treated this as a currency and one of the best example is Japan in which they are using bitcoin as Fiat in electronic form

Bitcoin is anonymous but now, exchanges are becoming more concerned with KYC. This is for verification purposes but one on a more serious note, don't you think the data collected can be used for security purposes as well. If exchanges are taxed, then every crypto user is being taxed in an indirect way.

I think the government does not need to set a tax on crypto ownership because we have reported income tax every month and crypto is also included in the income tax. What else does the government impose crypto ownership tax? I think the government just wants to blackmail us if they apply the regulation.

Regulation should come before Taxes, government must have a value to add before collecting tax, for there to be an increase in the adoption rate of BTC, Altcoin and  Cryptocurrency platform goverment involvement must be seen by all as a means of increasing trust rate on CRYPTO platoform.