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1  Bitcoin / Legal / Re: Not Yet Legal But Not Banned on: January 23, 2018, 05:19:01 PM

If governments not seeing the blockchain technology isn't being used by banks like the rest of us hating XRP, I guess there won't be legalization and proof that it is indeed safe to use the technology and that government can tax investors. To me it doesn't matter what XRP do but if they've proven themselves for the banks to be used then I guess the government can also approved the rest of the blockchain tokens and that includes btc.

In my country the public interest to invest in bitcoin increases with the rise of the digital currency price. If there is a gain in the sale / purchase transaction or bitcoin investment, it is taxable income, according to the self assessment system, the taxpayer shall report the income in the annual tax return and pay the tax. and it does not matter to me.
2  Bitcoin / Legal / Re: Has anyone sold BTC won here in sig campaigns? how does tax work? on: January 22, 2018, 02:42:43 PM
...Nobody will make me pay taxes from tokens that are lying on some address without my name on it and that I can't spend on anything in my country but have to use an exchange first. ...

It is possible that it will not always be this way. You have to keep
in mind that the whole industry is still in its infancy and regulators
are still playing catch-up to keep up with the latest developments
in the cryptocurrency scene.

Nowadays, most ICOs require you to complete a KYC procedure. If you buy
tokens in an ICO where you are KYC verified it is entirely possible that one
day the tax agency of your country will come after the people, who participated
in the token sale and didnīt pay their taxes.



In order to work well together then establish the Credibility with the Bank
Strong KYC during the event generates tokens will make it easier to work with banks and follow AML rules. Voluntary compliance in token sales seems to give a project a stamp of legitimacy. Many potential regulators seem to be open to token sales. preferably transparent especially when dealing with potential regulators. Since regulatory agencies in many large markets (eg, US, Canada and UK) are leaning to classify ICO as a security, ICO should be more proactive and adhere to AML / KYC guidelines to operate in this market.
Any business that wants to succeed in the long run, and not just take the money and run it, needs to understand the existing legal framework and ensure compliance. Legitimacy can be determined by how well the initial crypto assets and governance contracts are designed and protected.
3  Bitcoin / Legal / Re: Not Declaring Bitcoin Income on: January 21, 2018, 06:43:29 PM
It is not true that bitcoin will not declare or consider as alternative source of income. To be honest bitcoin provide options on how to earn income in most convenient and easiet way. 
They make the life of everyone more easier than before so you must consider to invest with it.  Bitcoin will make your life more suceesful in future.

That's right bitcoin makes it easy for us to work and have income so the best option is beinvestment in bitcoin.
4  Bitcoin / Legal / Re: Dark use of Bitcoin on: January 21, 2018, 04:42:27 PM
i dont have any intention to buy ilegal stuff, its to risky for me and my mental too, because if i trying like that i will more to like that  Grin
and because my country forbid bitcoin i prefer a cash or real money to buy something i desire

Maybe your opinion is correct but for me if a country wants to advance in the economic aspects of the country should imitate the state that legelizes bitcoin as a legitimate purchase / exchange. because in addition as a means of exchange bitcoin can also be made as a good share purchase. already millions of people who prove it
5  Bitcoin / Legal / Re: do i have to pay tax on bitcoins ? on: January 21, 2018, 04:08:19 PM
Yes if you are oblige to pay it so. Generally all incomes come from bitcoin are considered passive income therefore all income will be subjected to final tax. 
All earnings that you will receive are net by tax,  usually it range 2-15% it depends on the country on what percent they imposed.

If it was to smooth the bitcoin industry in different countries why not. because tax is an absolute obligation.
6  Bitcoin / Legal / Re: A big problem in bitcoin ??? on: January 20, 2018, 07:50:51 PM
In my longer years here jn bitcoins there is no any circumstances that the company gives me problems or any delays at all.
 In fact they provide solutions in your personal problems and helps you to become more wealthy in future.  Bitcoins give you a better life wherein you are financially stable jn future.

I agree the bitcoin inventor really gives a lot of opportunities so that everyone in the world can enrich themselves and not rely on his government. but as good citizens we have to pay taxes. through earnings from bitcoin we set up a real business when already have our income pay taxes.
7  Bitcoin / Legal / Re: Is it legal to sell bitcoin for cash ? on: January 19, 2018, 07:14:48 PM
What is the status on the legality of bitcoin and crytpocurrency in your country? In my country, it is perfectly fine to do so. A local exchange wallet allows us bitcoin users to easily have our bitcoins exchanged into our local currency, and we may retrieve this through remittances or have it transferred directly to our bank accounts. I don't see anything wrong with selling your bitcoins for cash, unless the mere possession of bitcoin is considered to be illegal in your country.

In our country bitcoin is still illegal but the bitcoin sale wallet is very real no doubt
8  Bitcoin / Legal / Re: What do government regulations REALLY mean for Bitcoin? on: January 19, 2018, 07:08:17 PM
I like to read the news about potential bitcoin legislation taking place in different countries. I gotta say this article offers good summarized explanation of possible future regulations.

It is rather scary to see that almost any remarks of Bitcoin's regulation is causing unnecessary panic within the Bitcoin community. It doesn't have to be that way.

"fear" is a common thing especially in the country bitcoin is still illegal. for communities whose countries are still lay or have not legalized bitcoin then should be more careful in accessing / transactions. in the value of the economic aspect we hope our country implements a fair rule and legalizes bitcoin as a means of future transactions ..
benefits to a State:
1. The state will have an advantage if the income from btc is passed into tax
2. The country can quickly develop because the community has an unexpected income
9  Bitcoin / Legal / Re: Using Bitcoin and altcoins when under 18 on: January 19, 2018, 10:16:02 AM
Minors are supposed to take care and finish their studies first before joining any business ventures or trade but it hard to avoid that there are some business-minded minors that want to make some profits particularly in cryptocurrency trading. Some crypto exchanges have already stopped accepting minors like coinbase and bithumb and others might follow soon. But there are still no laws banning minors from using or investing in bitcoin or in any cryptocurrencies and they have the right to possess some amounts of bitcoin unless they use it in illegal activities.


I agree with you. But in today's technology is growing very rapidly let alone aged 18 years to 3th already using technology and the role of parents is very important in its application. Because internet access is easy one can enter. So in business even under age they are entitled whereas positively.
10  Bitcoin / Legal / Re: Has anyone sold BTC won here in sig campaigns? how does tax work? on: January 19, 2018, 10:04:39 AM
It depends on the country, obviously. In my one there is no clear legislation, but the most likely scenario is that you have to declare them as if you were being paid for being a freelancer writing for a newspaper or a magazine, so your earnings here counts for your income tax.

There is no legislation as well in my country so whenever I sell my btc for our local currency, I do not pay any taxes except for the fees in the exchange. Since income tax should apply regardless of what currency it is, once declared there may be some taxes imposed for btc that is exchanged. As long as it's part of your income, you would have to pay taxes as well.

It's best to find out first what is the legislation in your country regarding bitcoin and cryptocurrency and whether regulations are made for it.


Yes it is true if we successfully transmit btc sales results that we give taxes to the government because the rules are the rules that must be enforced as good citizens we must comply with absolute government regulations. But now how to make the sale btc can be made a valid tax?
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