So we've seen all the FUD going around recently, but the main one in terms of any impact is the regulation discussions coming from the G20 tomorrow (6th of feb)
First, it seems a lot of people don't actually understand what regulation means, all commodities on this planet are regulated, regulation is has many benefits, no shady exchanges, people being held liable for ICO rip offs etc, this is the opposite direction from a ban and in my eyes = acceptance of crypto currency, now for some reason people are saying this is the end, they view regulation = ban, this is 100% wrong and pure FUD, all talks of banning it are due to lack of regulation, so put that together.
Now if we look at other commodities, gold, forex profits etc, this falls under capital gains tax, look up your countries tax laws to see where this fits, for me as an Australian, capital gains tax is less than I pay on my salary, unless ofcourse I end up making millions, in that case so be it, USA is similar.
Now let's look at what's being said, the french finance minister, Bruno Le Maire is the one pushing the agenda at G20, let's see what he has to say:
The use of this new technology will allow fintech firms and other financial actors to develop new ways of trading securities that are faster, cheaper, more transparent and safer.
Technology is quickening productivity at an unprecedented rate, which presents both opportunities and challenges. We want to ensure that adopting technological advances does not lead to economic exclusion or other negative side effects
Do these comments sound negative to you? if so explain away
As for impact, if this were to go through and go under capital gains tax, a lot of whales will have to pay 25-30% tax, sounds like a lot but look at what 1 single correction can do to the market, or look at the gains that can be made in 1 month, it makes 30% over 1 year look like peanuts.
In my eyes, if this goes through, bare in mind it won't overnight.. it'll be the final bump before the next big thing.
Nothing will change around the fact that BTC has limited supply and demand will drive it's price, it's decentralised there for price cannot be controlled.
Surely I'm not the only one with views like this, would love to hear what others have to say.
