Government Furious

[validavi]

The capitalization of bitcoin transactions reaches billions of dollars but governments of any country can not get revenues or income from these transactions and this makes governments in many countries complain of the existence of bitcoin because it is considered a threat to the economy of a country. Should tax apply to users who do bitcoin transactions? When are users comfortable with this situation? what is the right regulation to address these issues to help each country improve its economy?

Tax should definetly be taken on crypto profits but there should be no additional tax. With time we will see more countries supporting crypto.

[1714758076]

1714758076

[green_fish]

If BTC is required to pay tax, it means that the country has recognized the legal status of BTC and can profit from Bitcoin's transaction.
BTC is accepted by more people and the price of BTC will rise!

[cryptostardom]

I believe there are other ways that the government can get revenue form Bitcoin and other cryptos without taxing holders of Bitcoins. The government should find other ways such as having their own digital coin like China, or perhaps establish trading or exchange systems Also if the government agencies and stores that being taxed by the government start to receive Bitcoin payment.
Moreover if the holder of Bitcoin are getting high incomes I believe it increase the person's wealth and will help the economy in the long run. 

[King Koy]

The only way to make bitcoin effective in economy is to let it works freely in a country instead of banning. Let every private sectors use bitcoin freely and from them government can manipulate bitcoin through controlling the sectors of how much they earned from using bitcoin and from here will be the basis of their taxes.

[The cure]

Many bitcoin users are also agree if governments will regulate bitcoin,or will impose taxation. Because,if it will be happened,bitcoin will also be legalized,and many people will be benifited in bitcoin.

[aeternus]

The capitalization of bitcoin transactions reaches billions of dollars but governments of any country can not get revenues or income from these transactions and this makes governments in many countries complain of the existence of bitcoin because it is considered a threat to the economy of a country. Should tax apply to users who do bitcoin transactions? When are users comfortable with this situation? what is the right regulation to address these issues to help each country improve its economy?

It is true that governments are not getting any revenues from crypto currency, but should it be taxed? For me, I don't want my hard earned money to be taken away by the government, it is true that we use taxes to better our economy, but it is also true that most politicians are corrupt and we cannot control them, once they realize bitcoin's potential they might take it, it is a good thing that bitcoin still is anonymous. As of now, I am comfortable eith my investments in crypto currency, I think what thr government should just watch out for is for those hackers that would want to infilatrate a nation's security, rather than those who are trying to make a living, for the third question, I think it is much better if those who are in the community will make the regulation, rather than some outsider who thinks they know what they are doing.

They do not care about what we want, they see a new industry and governments cannot stop themselves from wanting to get what they consider to be their share of the pie, but for the first time an industry was designed to avoid exactly that and governments do not know what to do, they never faced an opponent like cryptocurrencies before, they are very good at dealing with centralized enemies but they cannot really understand how to deal with a decentralized enemy.

I somehow agree with you. As of now, the only thing they can do is limit the usage of crypto or worst case scenario would be banning crypto. The regulation of crypto is what most of the people are also waiting, most specially those companies who are also interested about the blockchain technology.

It seems to me the only limit to cryptocurrencies are cryptocurrencies themselves, governments may try to regulate them or to ban them but if the utility of cryptocurrencies is still there then the people will keep using them, some will stop to use them if a ban is implemented but many will not care since they do not really worry about government approval at all.

[Escf4]

The government is furious about bitcoin ,because of its characteristic of being a decentralized kind of currency that is circulating in the digital world, so the goverent are furios because they can not monitor the activity of bitcoin and other cryptos, can not implement taxations on bitcoin and can not manipulate the movement of bitcoin that is the reason government is so furios about bitcoin.

[patrickj]

Without a doubt ambiguity of Bitcoin exchanges give the administration migraines, however it doesn't mean they can't control the stream of cryptocurrency in their nation. I think they should simply strengthen digital money and make a controlled wallets which enables clients to change over and exchanges through it and have it burdened. In that way they are helping their constitutes and enhance their economy also.

[pellor mas]

The government understands that they can not only impose any taxes and everything just because the value is being moved from one place to another. On top of that, it also depends per country what Bitcoin is classified as, and based on it you may end up having to pay taxes in certain situations.

[DMCR lah]

the government of any country can not earn income or income from this transaction and this makes governments in many countries complain of the existence of bitcoin because it is considered a threat to the economy of a country.

[b3j0]

the government is not entitled to impose a tax if it does not do anything, but if the government makes a rule to protect bitcoin then the government is entitled.

[Kim Ji Won]

This is the reason why the Government of any countries upon legalizing the use of cryptocurrencies needs to create an extensive regulation to it because they feel cheated when they are not getting any revenues from the billions of transactions happening in the crypto world. They know that the money they could get from the taxes if implemented to the people who are using cryptos could somehow help their economy.

[hajimasan]

The capitalization of bitcoin transactions reaches billions of dollars but governments of any country can not get revenues or income from these transactions and this makes governments in many countries complain of the existence of bitcoin because it is considered a threat to the economy of a country. Should tax apply to users who do bitcoin transactions? When are users comfortable with this situation? what is the right regulation to address these issues to help each country improve its economy?

In actual every government of every country have Thier own opinion toward the bitcoin , at one side they are thinking that bitcoin is using by the people for illegal activities and opposite of this side they are thinking that lots of money is entry our country easily .
So a type of thinking here working and few governments made good rules to regualte the bitcoin use in perfect way so that people only can use bitcoin for simple and fair use instead to use in illegal things by making the use of every transaction in digital .
But opposite of this few countries are failed to make perfect rules to regulate bitcoin , so they are thinking to ban .
If we take exmaple of the country where I am living then here the government is not saying clearly that whether they are going to ban or regualte or legalisation anything , they are only making rules that are creating difficulties for us to use bitcoin buy and sell .

[katiecbell]

I see the government as greedy. There are several ways to tax citizens. Direct and indirect tax exist in every country. Owners of cryptocurrency may not pay direct tax on their cryptocurrency, but cannot avoid paying indirect tax. Again, it is a small fraction of the population that are into cryptocurrency. So the agitations by government from my standpoint is unwarranted.

Governments are now realizing the need of Bitcoin and that is why recently we have seen the act of Germany and recognized the Bitcoin for the first time ever in their history. This need is feeling to other countries as well because they are watching and observing the economies of other countries which are using Bitcoin. They also need this and soon the whole world will demand for it.

[manismanja]

if the traders who play bitcoin charged taxes it seems not good and not good because players do not always get a profit and should not be bitcoin can be controlled by the government.

[henmark]

The capitalization of bitcoin transactions reaches billions of dollars but governments of any country can not get revenues or income from these transactions and this makes governments in many countries complain of the existence of bitcoin because it is considered a threat to the economy of a country. Should tax apply to users who do bitcoin transactions? When are users comfortable with this situation? what is the right regulation to address these issues to help each country improve its economy?

In my own opinion, taxes are already considered as fees and because of that, there is no need to ask for tax, the only reason why government is asking for tax is that, they want to get more money from people which will directly go to their own pocket.

There are some countries across the world that have been furious about the technologies like Bitcoin and have banned them there. This was a huge downfall to Bitcoin and the demand simply fell to the ground. However there is nothing to be afraid of Bitcoin and the technology should be spread instead. As a result of this act, we might seem some beautiful financial days in future.

[Twentyonepaylots]

The capitalization of bitcoin transactions reaches billions of dollars but governments of any country can not get revenues or income from these transactions and this makes governments in many countries complain of the existence of bitcoin because it is considered a threat to the economy of a country. Should tax apply to users who do bitcoin transactions? When are users comfortable with this situation? what is the right regulation to address these issues to help each country improve its economy?

Government dont get taxes because they do not want to regulate bitcoin trade. If bitcoin trade regulated, I am believe bitcoin investor fine with taxes and feel more confidence to investing more money

The financial institution of the government is not stopping by looking into the Bitcoin digital transaction, they want a full regulation of crytpo currency transaction, taxes on every trading or transaction of Bitcoin, as simple as it is may sound but it may end up on the total control on market trading of Bitcoin. Yet, it is difficult for them to have a total control simply because of the Decentralized system. and this is the possible reason on the never ending issue of Regulation.

[Neraj Evad]

The capitalization of bitcoin transactions reaches billions of dollars but governments of any country can not get revenues or income from these transactions and this makes governments in many countries complain of the existence of bitcoin because it is considered a threat to the economy of a country. Should tax apply to users who do bitcoin transactions? When are users comfortable with this situation? what is the right regulation to address these issues to help each country improve its economy?

Government dont get taxes because they do not want to regulate bitcoin trade. If bitcoin trade regulated, I am believe bitcoin investor fine with taxes and feel more confidence to investing more money

The financial institution of the government is not stopping by looking into the Bitcoin digital transaction, they want a full regulation of crytpo currency transaction, taxes on every trading or transaction of Bitcoin, as simple as it is may sound but it may end up on the total control on market trading of Bitcoin. Yet, it is difficult for them to have a total control simply because of the Decentralized system. and this is the possible reason on the never ending issue of Regulation.

Government are furious about this happenning that they can not take control on bitcoin, they can not impose taxes to bitcoin transaction and payments, and mostly they cannot regulate what they want from bitcoin

[ilhamdoni]

Do the government can not make a regulation to impose the collection of tax to cryptocurrency as billions of dollars passes everyday to the users and investors who transact that huge money then it should apply to the users who do bitcoin transaction.but  I don't think that a lot of people (if not all) will probably be not that comfortable in having crypto's be centralized or regulated.

[nyerok]

yes you are right the government's ambition is very high not to legalize bitcoin and it will attract taxes for bitcoin users and actually it does not really matter because not all bitcoin users always benefit.