[2016-08-11] Authorities Hint At Potential Bitcoin Taxation In Russia

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Topic: [2016-08-11] Authorities Hint At Potential Bitcoin Taxation In Russia (Read 282 times)

jdebunt (OP)

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[2016-08-11] Authorities Hint At Potential Bitcoin Taxation In Russia

August 11, 2016, 12:13:47 PM

It is important to keep in mind these recommendations are not legally binding in their current form. There is no plan to change regulation or taxation of cryptocurrency either, but it is a possibility being considered. For the time being, using Bitcoin can be done without worrying about tax, albeit doing so may be at one’s own risk.

http://themerkle.com/authorities-hint-at-potential-bitcoin-taxation-in-russia/

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The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.

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Re: [2016-08-11] Authorities Hint At Potential Bitcoin Taxation In Russia

August 11, 2016, 12:54:38 PM

Imposing an extra tax on Bitcoin use is idiotic and would - if successfully enforced - have a negative impact on the use of Bitcoin as a currency. However I doubt that the proposal will materialize. And even if it will, it is extremely unlikely that it can be successfully enforced. Regardless it will not be applicable to native Bitcoin transactions.

Governments are still engaging in delusional thinking that their inflationary fiat money will remain the reference point for value. It will be a harsh awakening for them when Bitcoin ultimately replaces fiat in daily use. Instead of embracing Bitcoin today and reaping the economic benefits from it they are trying to impose (unenforceable) restrictions...

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Bitcoin Forum > Bitcoin > Bitcoin Discussion > Press > [2016-08-11] Authorities Hint At Potential Bitcoin Taxation In Russia

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