So ICONOMI gives out "company shares with dividends" and then will set up several funds, probably containing several million $ from non crypto investors?
Without any regulation or licences? I can't imagine that's legal in the EU.
If it would be just a coin it would be easy - but this sounds like a call for disaster.
I am sure you guys have the best intentions and are legit but I think it could be legally a nightmare very very soon.
Not "company shares with dividends". Those are platform shares
through an Ethereum smart contract, paying dividends in ETH.
Technically, there are no legal rules yet as far as I know. That's why you can read everywhere that cryptos are the effin far west.
As for the tax problem of dividends, I guess it depends on the fiscal rules of each country.
In France for example, cryptocoins are not yet recognized as -real- assets, taxwise. That's a growing thing govts are gradually going to address, but for now they don't understand sh#t about crypto.
For example, if you make x 2 on bitcoin, French law recognizes it as an income only when/if you sell your XBT for FIAT, and cash in those FIAT on your bank account.
That's when profit is realized in their eyes.
So if I cash in so called "dividends" in ETH, there's no way my govt will know. Let alone worry me with any dividend taxation / stock holder stuff.
BTW, if we get those debit cards that allow to withdraw actual FIAT cash with whichever crypto assets we have online, that's indeed a tax evasion dream coming true.
Sauce : I called my tax office last year to know if I had to declare anything on my crypto earnings.
The outcome was, considering most of it was still in XBT, I was not subject to any capital gain tax.
TL;DR : We're pionnering here. Let's be patient and see what happens.
