Mhd-Bobbi
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October 27, 2018, 04:15:36 PM |
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Many countries seem to have a hard time defining and regulating Bitcoin. The current legal framework is not enough to deal with cryptocurrency revolution, thus most countries still have not considered Bitcoin to be an additional legal tender just like the function of their central bank issued fiat money.
However, the Bitcoin revolution is fast reaching the nooks and crannies of many countries all over the world, what with the use of the modern gadgets and the internet. Sooner or later, financial authorities have to come up with the necessary framework with which cryptocurrency can work with.
For now, let us just enjoy the "not yet legal but not banned" status which can anyway fine with me so I can still avoid paying taxes.
Actually what happens if the use of bitcoin is not official, I see almost all countries that use bitcoin, but they continue to use it even though their state government does not approve it. In essence, even if it's not prohibited, just enjoy it if bitcoin can produce and meet your needs. If we wait for a request to be approved by the government, it will take a very long time, because there is no legal basis for the law of bitcoin currency. I think it's back to ourselves to take an attitude in using bitcoin. |
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Ozero
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Chainjoes.com
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October 29, 2018, 08:23:58 PM |
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Many countries seem to have a hard time defining and regulating Bitcoin. The current legal framework is not enough to deal with cryptocurrency revolution, thus most countries still have not considered Bitcoin to be an additional legal tender just like the function of their central bank issued fiat money.
However, the Bitcoin revolution is fast reaching the nooks and crannies of many countries all over the world, what with the use of the modern gadgets and the internet. Sooner or later, financial authorities have to come up with the necessary framework with which cryptocurrency can work with.
For now, let us just enjoy the "not yet legal but not banned" status which can anyway fine with me so I can still avoid paying taxes.
Smart decision. Together with the legalization of cryptocurrency, as a rule, the income tax comes from its use. Therefore, the undefined status of cryptocurrency means so far and the absence of taxation. However, in this case it is necessary to act at your own risk and risk with almost no state support. |
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budakjawa
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October 31, 2018, 02:35:14 AM |
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the government has not been able to make regulations about this. they also do not want to take steps that they have not fully mastered because they contain a high element of accountability, eventually bitcoin falls into the gray zone where they are not recognized, but still allowed.
You are right about taxes, and the best is we can still trade bitcoin with nominal purchases that are still affordable. Conditions will be much different when all countries regulate bitcoin and make volume + prices higher.
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LeetPoolsOP
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November 09, 2018, 04:07:58 PM |
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Lets enjoy this moment. My country is always telling us that always takecare about investing in cryptocurrencies. But even if they always remind to take care. My government is not making any moves in banning cryptos.
Because they invest in it by themselves. I am sure that all the leaders of countries who are against cryptocurrency have a little bit of bitcoin in the portfolio.. maybe they have Blockfolin on the cellphone also |
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ningrumxxi
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November 10, 2018, 01:19:17 AM |
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Many countries seem to have a hard time defining and regulating Bitcoin. The current legal framework is not enough to deal with cryptocurrency revolution, thus most countries still have not considered Bitcoin to be an additional legal tender just like the function of their central bank issued fiat money.
However, the Bitcoin revolution is fast reaching the nooks and crannies of many countries all over the world, what with the use of the modern gadgets and the internet. Sooner or later, financial authorities have to come up with the necessary framework with which cryptocurrency can work with.
For now, let us just enjoy the "not yet legal but not banned" status which can anyway fine with me so I can still avoid paying taxes.
maybe there are still many countries that have not fully understood the crypto currency, because most countries are still afraid that the crypto currency will turn off their original currency, and many banking financial services will be affected negatively if crypto is legalized in their country, because it will there are many business people who will leave bank services in carrying out their buying and selling transactions, |
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primejia
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November 10, 2018, 01:54:43 AM |
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It won't be legal until a big and influence country make an announcement to legalize bitcoin as a new currency that safe for any payments (online or offline). They can't do that because it's too complex to be a real currency.
Yeah, just enjoy it for now.
Re: Not Yet Legal But Not Banned July 03, 2017, 11:16:58 PM Reply with quote #3 It won't be legal until a big and influence country make an announcement to legalize bitcoin as a new currency that safe for any payments (online or offline). They can't do that because it's too complex to be a real currency. Yeah, just enjoy it for now. |
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Zalura
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November 10, 2018, 02:35:46 AM |
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Yes, so far unauthorized but illegal bitcoin users regardless of tax payments, in the absence of binding rules against the use of bitcoin in illegal state of bitcoin
but the status of bitcoin is not something that violates the law so it is indeed a bit unique, the perpetrators of buying and selling bitcoin are very numerous and will continue to grow but the status in their respective countries is still not official, because there are still many countries that do not yet recognize can happen because the bitcoin currency has an online system so it is very difficult to ban. |
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seggardinggins
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November 18, 2018, 01:20:26 PM |
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are you from the same country as me? because my country still hasn't made a definite decision about the existence of crypto. as you say maybe my country's government is still hesitant and hasn't found the best way to deal with Bitcoin but they also feel sorry if they decide to ban cypto because crypto can be very useful if used correctly. so until now I have also tried to take advantage of this situation as well as possible because it is possible for my country's government to ban crypto at any time.
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KorakPawon
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November 18, 2018, 01:53:14 PM |
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Legalisation doesn't bother me, since I don't have to pay taxes.
Seriously? Don't you know what the consequences of being legal? One of the consequences is tax, you have to pay tax. So, how could you be OK with legalization but has nothing to do with tax? I guess you need to read a lot more. |
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Harlot
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November 18, 2018, 05:52:25 PM |
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Laughed hard that I thought OP is making sense on his post and then he will say For now, let us just enjoy the "not yet legal but not banned" status which can anyway fine with me so I can still avoid paying taxes.
Even without regulation in your country you still have to pay taxes. Income tax in general covers all even if it is illegal that is why drug cartels are laundering money in a form of "legit" businesses in order for them to be able to spend their illegal money. BTC might be neither legal or illegal in your country but you still have a duty to pay taxes even if there are still no laws covering about it. You might be earning through trading and mining but they are still covered by your taxes through capital gains and income tax respectively, there is no special tax for BTC as you already have one. |
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Capt00
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November 18, 2018, 07:23:33 PM |
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Laughed hard that I thought OP is making sense on his post and then he will say For now, let us just enjoy the "not yet legal but not banned" status which can anyway fine with me so I can still avoid paying taxes.
Even without regulation in your country you still have to pay taxes. Income tax in general covers all even if it is illegal that is why drug cartels are laundering money in a form of "legit" businesses in order for them to be able to spend their illegal money. BTC might be neither legal or illegal in your country but you still have a duty to pay taxes even if there are still no laws covering about it. You might be earning through trading and mining but they are still covered by your taxes through capital gains and income tax respectively, there is no special tax for BTC as you already have one. That is different here in our country, yes, not yet legal but not banned. Our government did not take any laws regarding Bitcoin and other cryptocurrencies, luckily we are freely used here even without paying tax to them. We enjoyed using anytime and we can pay tax when we buy goods from the earning of crypto. Well, that scenario depends upon where you living and if ever there is a law, then, you must obey the law. |
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Harlot
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November 18, 2018, 08:09:19 PM |
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~snip~
That is different here in our country, yes, not yet legal but not banned. Our government did not take any laws regarding Bitcoin and other cryptocurrencies, luckily we are freely used here even without paying tax to them. We enjoyed using anytime and we can pay tax when we buy goods from the earning of crypto. Well, that scenario depends upon where you living and if ever there is a law, then, you must obey the law. Don't make a fool out of yourself, If Bitcoin is tax free in your country then all of the businesses will only accept Bitcoin by now in your country in order for them not to have any kind of tax obligations whatsoever. There is no such thing as tax exemption because you are earning Bitcoin, no matter what currency you are earning may it be fiat or cryptocurrencies you still have tax obligations for your country. There is no country dumb enough to tax exempt one kind of currency as it will be a loophole in their tax system. Please you need to know something about taxes to even be in this conversation. |
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KrishaBitcoin
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November 22, 2018, 05:32:24 AM |
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Our country is also in neutral stand regarding Bitcoin earning and sometimes i wish that its should be in this condition forever so that we could enjoy free of tax for more and just forget all about security issues but sooner or later it will become more popular here and the next will be regulation therefore i encourage my friends to join this investments as soon as possible while we are still enjoying free of Bitcoin tax.
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coldplay3r30
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November 23, 2018, 01:02:00 AM |
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If something is not illegal, as in added to the code of law, it is legal. For bitcoin to become illegal there would have to be established laws against it. If there are no such laws, it's completely legal, and since law doesn't work backwards, if it's ever outlawed, nobody will be able to prosecute you for using it in the past.
Also, it's worth mentioning that some countries already have laws that make bitcoin legal and protected by law, which means if somebody steals your coins you can go to the police, like you would have if they stole physical items.
Bitcoin status for some traders is always being blamed, but as long as bitcoin doesn't violate the law we don't need to be bothered, business people don't need to worry as long as the business can make us profitable and can be a source of income for us, then move forward while there is a chance, if our money is stolen we are indeed difficult to report to the authorities, but the case of bitcoin theft is very small, there is a case of fraud using bitcoin as a tool of evil is not theft. |
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KorakPawon
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November 25, 2018, 02:33:57 AM |
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It won't be legal until a big and influence country make an announcement to legalize bitcoin as a new currency that safe for any payments (online or offline). They can't do that because it's too complex to be a real currency.
Yeah, just enjoy it for now.
yes maybe that is the reason why until now bitcoin does not have legality, but even so especially in the area that I stop even though there is no legality but I have not heard of any bitcoin users being tackled by the government all but safe means that means there is no special ban bitcoin digital money, if that is the case we must be prepared if one day bitcoi is banned because there is no legality because it might happen ... |
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senin
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December 05, 2018, 06:51:22 AM |
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Many countries seem to have a hard time defining and regulating Bitcoin. The current legal framework is not enough to deal with cryptocurrency revolution, thus most countries still have not considered Bitcoin to be an additional legal tender just like the function of their central bank issued fiat money.
However, the Bitcoin revolution is fast reaching the nooks and crannies of many countries all over the world, what with the use of the modern gadgets and the internet. Sooner or later, financial authorities have to come up with the necessary framework with which cryptocurrency can work with.
For now, let us just enjoy the "not yet legal but not banned" status which can anyway fine with me so I can still avoid paying taxes.
Of course, in the absence of regulation of cryptocurrency, there are advantages and disadvantages. The lack of regulation of cryptocurrency activity means the absence of its legal status and legal protection in the state, however, the lack of rules established for its circulation within the state and of course, the absence of taxation on the cryptocurrency. However, the process of considering the issue of legalization of cryptocurrency by the state is inevitable in any case. In the meantime, you can really work with cryptocurrency without its legal status and earn a good profit, as long as there are no income taxes in this type of activity. |
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DavidNiva
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December 12, 2018, 01:51:36 AM |
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If something is not illegal, as in added to the code of law, it is legal. For bitcoin to become illegal there would have to be established laws against it. If there are no such laws, it's completely legal, and since law doesn't work backwards, if it's ever outlawed, nobody will be able to prosecute you for using it in the past.
Also, it's worth mentioning that some countries already have laws that make bitcoin legal and protected by law, which means if somebody steals your coins you can go to the police, like you would have if they stole physical items.
there is no law anywhere that says bitcoin violates the law, because basically bitcoin is only money that has no form, how it can violate the law, what happens is that bitcoin abusers buy something that is in violation of the law, so it all depends on its use, not bitcoin the problem, but the user has a problem. |
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aryatrals
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December 19, 2018, 03:27:39 AM |
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Many countries seem to have a hard time defining and regulating Bitcoin. The current legal framework is not enough to deal with cryptocurrency revolution, thus most countries still have not considered Bitcoin to be an additional legal tender just like the function of their central bank issued fiat money.
However, the Bitcoin revolution is fast reaching the nooks and crannies of many countries all over the world, what with the use of the modern gadgets and the internet. Sooner or later, financial authorities have to come up with the necessary framework with which cryptocurrency can work with.
For now, let us just enjoy the "not yet legal but not banned" status which can anyway fine with me so I can still avoid paying taxes.
Bitcoin status is very different from each country, because the financial system is different and the laws are not the same, but indeed bitcoin is not a prohibited item, so the status still does not violate the law, so bitcoin traders can trade freely, but if they transfer money to the State this origin is usually problematic, because the government will examine the flow of funds, but it can still be overcome. |
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Rooster101
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January 29, 2019, 02:40:28 PM |
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Lets enjoy this moment. My country is always telling us that always takecare about investing in cryptocurrencies. But even if they always remind to take care. My government is not making any moves in banning cryptos.
Same here, my government also reminds its citizens to take necessary steps before investing in cryptocurrencies because it is very risky and some scammers are also using it. The central bank here is permitting the operation of local crypto exchanges but they have to apply for licenses first. Financial technologies and other blockchain companies are also welcome to set up their business here but the government is yet to legalize bitcoin. |
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Siren
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January 29, 2019, 02:54:40 PM |
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Many countries seem to have a hard time defining and regulating Bitcoin. The current legal framework is not enough to deal with cryptocurrency revolution, thus most countries still have not considered Bitcoin to be an additional legal tender just like the function of their central bank issued fiat money.
However, the Bitcoin revolution is fast reaching the nooks and crannies of many countries all over the world, what with the use of the modern gadgets and the internet. Sooner or later, financial authorities have to come up with the necessary framework with which cryptocurrency can work with.
For now, let us just enjoy the "not yet legal but not banned" status which can anyway fine with me so I can still avoid paying taxes.
In our region we have the same status of government in which theres no banning but not legal also though there are some warning from the Central Banks on how to engaged with cryptocurrency,but you are right we must enjoy this status instead many things ca be done by this before the finak action of each governments |
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