Taxable cryptocurrencies.

[Ilegendph]

In most cases governments are charging taxes in fiat. In order to get charged you need to sell your funds first. All those taxation will continue to seem logical untill cryptocurrencies are used not as a payment method. I don't think that you will get taxed for buying and then selling the same abount of some stablecoins. I also think that  normal people will still be able to sell their cryptos without any problems. I doubt that aby serious tax department will try to charge you for selling 1k$ worth of bitcoin (unless there will be any national exchange with % included) or untill a good volume is passing thru you.
For normal people it is a sign that cryptos are getting more extablished.

I get your point sir, So does it mean that whenever you invest on some cryptos you will not get taxed right? Only when you sell your funds right? Thanks for the help sir, highly ppreciated.

Yes that's right but I believe that once the government knew that you are into crpytocurrency industry, they will have an eye on to see if you are not violating any law such as tax evasion.

[enhu]

In most cases governments are charging taxes in fiat. In order to get charged you need to sell your funds first. All those taxation will continue to seem logical untill cryptocurrencies are used not as a payment method. I don't think that you will get taxed for buying and then selling the same abount of some stablecoins. I also think that  normal people will still be able to sell their cryptos without any problems. I doubt that aby serious tax department will try to charge you for selling 1k$ worth of bitcoin (unless there will be any national exchange with % included) or untill a good volume is passing thru you.
For normal people it is a sign that cryptos are getting more extablished.

I get your point sir, So does it mean that whenever you invest on some cryptos you will not get taxed right? Only when you sell your funds right? Thanks for the help sir, highly ppreciated.

Yes that's right but I believe that once the government knew that you are into crpytocurrency industry, they will have an eye on to see if you are not violating any law such as tax evasion.

That is going to be a hide and seek situation for most of us lol. They may finds some reason to search your house which is going to be scary than just collecting tax to us. They may accuse one of us to be funding terrorist and that who ever you transact with in the past have been involved. This is why regulation is a lot complex than just taxing exchanges.

If they intend to they might tied a certain btc address alone that each can use and you can't change.

[InahC]

On our country, the government are currently studying the cryptocurrency and how they can tax are income from it. I think it for the best, because I think if this happens, they will allow us to transact more using this cryptocurrency.

[tanxingwo1215]

Taxation means that digital encryption money is legal and protected by law!

When digital cryptography is stolen or defrauded, it will be a new problem for government departments to protect it.

[Silentsweeper]

Bitcoin is a virtual currency that uses cryptographic encryption system to facilitate secure transfers and storage.Bitcoins are generated by what is called mining a process wherein high-powered computers, on a distributed network on a distributed network, use an open source mathematical formula to produce bitcoins.Bitcoins can be used like a fiat world currency to buy goods and services. Around the world, tax authorities have tried to bring forth regulations on bitcoins. No matter what happens the Global world would stand together to introduce tax on Bitcoin.

[kache2018]

In most cases governments are charging taxes in fiat. In order to get charged you need to sell your funds first. All those taxation will continue to seem logical untill cryptocurrencies are used not as a payment method. I don't think that you will get taxed for buying and then selling the same abount of some stablecoins. I also think that  normal people will still be able to sell their cryptos without any problems. I doubt that aby serious tax department will try to charge you for selling 1k$ worth of bitcoin (unless there will be any national exchange with % included) or untill a good volume is passing thru you.
For normal people it is a sign that cryptos are getting more extablished.

I get your point sir, So does it mean that whenever you invest on some cryptos you will not get taxed right? Only when you sell your funds right? Thanks for the help sir, highly ppreciated.

Yes that's right but I believe that once the government knew that you are into crpytocurrency industry, they will have an eye on to see if you are not violating any law such as tax evasion.

That is going to be a hide and seek situation for most of us lol. They may finds some reason to search your house which is going to be scary than just collecting tax to us. They may accuse one of us to be funding terrorist and that who ever you transact with in the past have been involved. This is why regulation is a lot complex than just taxing exchanges.

If they intend to they might tied a certain btc address alone that each can use and you can't change.

Given to this situation, it really is possible in the long run right sir?  What destroys the image of bitcoin to the government however is the occurence of terrorism which for me I think is pure coincidence.

[tegarp90]

I think it's really hard to implement it.
Because they won't know anyone who has the address and cannot track it because it's decentralized

[jvdp]

I think it's really hard to implement it.
Because they won't know anyone who has the address and cannot track it because it's decentralized

If you guys do not want to find the taxation for using crypto currencies you all need to boycott the RIPPLE from using it. This shit alone getting too much contracts and project tie up with the various banks in this world.
This itself make you understand what actually they are from bro.
If this taken strictly against the Ripple and the other shit crypto currencies you will not find the taxation on cryptos.

[cryptojohnn7]

If you are holding your coins as investment, you won’t be taxed. Coins will be treated as capital asset, like other stock or bond. But if you buy any commodity using BTC, Paying someone or getting paid in BTC, you will be taxed.

[levvv]

i personally don't agree with the tax applied on the cryptocurrency.
If they taxed our cryptocurrency as well, what will they use the tax for ?
Support the cryptocurrency? i guess not.

[Aleth]

I they don't know you have the money, they can't tax it. If you managed to get money into certain address years ago before regulations have been implemented and you haven't touched that since, it's unlikely they'll find it. As for what you keep in exchanges now, they can track that. Thankfully though for now they seem to be content on charging only when you cash out.

I agree with this. Actually, they don’t know our transactions in cryptocurrency. The only thing they know is when you exchange it into fiat currency. I believe this is where taxation comes in as we are also charge with some amount in our exchange. as the exchanging company of fiat are being taxed, in one way we tax through them. Because if we will be taxed individually the question is who will tax us? Our own country? How? This might create more problem since we differ in countries. Not unless we only have one world system and governance with one cryptocurrency.

[Crypdon]

It depends on which country you live in, but i would think that it is ok to keep trading until you convert them into fiat. At that point you will be taxed on how much you gained from when you entered the market. When it becomes legal tender to buy and sell products then we have a completely different ball game.