[2018-07-11] Regulation is Why The US is Losing The Crypto War

[lemonte]

There are trillions of dollars worth of capital not being used. Or rather, they are being used so ineffectively that they might as well not be used. Capital tied up in the supply chain and slowed by the ancient fiat system results in a lot of waiting, borrowing and general ineffective use. Sweetbridge thinks they can fix that, but only if regulators let them.

The financial regulatory system in the United States is a hodgepodge of different state regulations, federal regulators and red tape that is preventing financial innovation that could free up untold capital and reinvigorate our economy.

https://coinjournal.net/regulation-is-why-the-us-is-losing-the-crypto-war/

[sindikat]

No one will ever give up these rules. They weren't made up to celebrate. The development of the economy of the government is least interested. If it was not that they would develop the public sector of the economy. The main goal of any government is maximum control over all citizens. and for this they need rules of regulation.

[Goozzi]

 Regulator relations with crypto-currencies in America have always been difficult. In the US tax on cryptocurrencies was earlier. True, it was actually income tax. Since 2014, holders of cryptocurrencies have been required to pay capital gains tax only after exchanging their bitcoins for fiat money. However, in 2013-2015, taxes from bitcoin operations were paid by only one thousand people. The tax authorities even started the case on the cryptoexchange Coinbase, demanding the issuance of a database of owners of bitcoins.
 Now this order extends absolutely to all operations with cryptocurrencies. The tax will have to be paid even if the investor wants to change bitcoin on ether (or any other crypto currency). If the crypto currency is simply stored for less than a year, then it falls under the standard personal income tax with a progressive scale of 10% to 37%. If more than a year, then there is already a tax on long-term capital growth with a rate of up to 24%.And from the beginning of this year, all "exchange-like operations" will be taxed.
 As a result of these measures, the US clearly loses to countries such as Switzerland and Malta, where the laws regarding crypto currency are much softer.