tax for a safer crypto environment

[ladydark]

What if our government add tax whenever we transact fiat-crypto and vice versa, and the fund will be used for our protection(ICO,Scams,Phishings), for example the government will make a group or sector that focuses on crypto environtment. what do you think?

If the government levy taxes for each and every time we convert bitcoin to fiat and vice versa,then we would not be able to bare that huge tax and that's why,many countries have laid taxes only when we withdraw cryptos from exchange and not for every transaction.Also even by not implementing taxes,government could take steps to safeguard investors interests from scammers.

[kwarto]

What if our government add tax whenever we transact fiat-crypto and vice versa, and the fund will be used for our protection(ICO,Scams,Phishings), for example the government will make a group or sector that focuses on crypto environtment. what do you think?

I love the idea! that's means security of our investment. If government will come to aid us in determining the scam project and.jail those responsible to cheat our investment then I think that would be great... Government protection is our strongest weapon against evil people that aims to get our money and run afterwards.

[Findingnemo]

What if our government add tax whenever we transact fiat-crypto and vice versa, and the fund will be used for our protection(ICO,Scams,Phishings), for example the government will make a group or sector that focuses on crypto environtment. what do you think?

If the government levy taxes for each and every time we convert bitcoin to fiat and vice versa,then we would not be able to bare that huge tax and that's why,many countries have laid taxes only when we withdraw cryptos from exchange and not for every transaction.Also even by not implementing taxes,government could take steps to safeguard investors interests from scammers.

Taxes on crypto currency are right think but the government will not support for that but we need to something for that to develop crypto currencies so taxes are right but need some regulation for that.

[Cosbycoin]

What if our government add tax whenever we transact fiat-crypto and vice versa, and the fund will be used for our protection(ICO,Scams,Phishings), for example the government will make a group or sector that focuses on crypto environtment. what do you think?

This is totally irrelevant because we are running away from taxes and you are asking about tax in crypto is bad for crypto users. Crypto users are investing because it is tax free and is negligible as compared to other currencies. People leave fiat due to the tax and bad transaction system and now the given suggestion will make people to run from crypto as well like they ran from fiat.

[Kakmakr]

It is a very bad idea. Governments have a very bad habit to implement taxes on certain things and then that tax income are then re-channelled to something else. You will for instance get a new tax on "sugar" for instance and that tax will go into the regulation of the "sugar" intake of people to prevent obesity.

After a year or two, you will find that the government needed funds to repair the roads and that the collective income from taxes, went to the repair of the roads and not to it's intended purpose. The same thing will happen to "Crypto" taxes. 

[localcrypto]

Regulating Crypto Taxation is the first step towards crypto legality any government should concentrate on instead of banning crypto regulation is most important

[East2011]

What if our government add tax whenever we transact fiat-crypto and vice versa, and the fund will be used for our protection(ICO,Scams,Phishings), for example the government will make a group or sector that focuses on crypto environtment. what do you think?

I think it is a good idea. As long as the tax they get will make cryptocurrency more safer and protected from all scammers and other criminals.

[1Referee]

As long as the tax they get will make cryptocurrency more safer and protected from all scammers and other criminals.

Governments can't and won't do anything to protect you. If you look at how all regulations meant to 'protect' the regular markets don't even have any effect, why would it have an effect on crypto? The only things the government cares about is you paying your due taxes, and how you have distrubuted your wealth. If they know these two options are in check, they have everything needed to blackmail and control you.

I know someone personally that due to a tax dispute with the tax department, has no longer access to financial services and everything else requiring an initial background review, all because of his 'taint'. It's a legal form of blackmailing someone to get him to do something, which in this case is to having him pay his due taxes. The government itself is the biggest ever criminal, we don't need them to protect us, we can take care of ourselves.

[Muwatti]

What if our government add tax whenever we transact fiat-crypto and vice versa, and the fund will be used for our protection(ICO,Scams,Phishings), for example the government will make a group or sector that focuses on crypto environtment. what do you think?

You know that's a good idea...  If the tax we pay will really help us for our security why not...  Tax is really helpful sometimes especially if the government used it for the goodness of many...  I will support that also because while we are working here atkeast we are sure that we are away from scam... But as for now it is still not possible because crypto are just starting... It needs a lots of people who will recognize its uses before it happen...  But us a user we are hoping that soon it will happen....

[khaled0111]

It is a good idea but it will be hard to implement it.
People using cryptocurrencies don't want to be controlled by their governments so they will make their deals in the black market.
Also, implementing tax means that Bitcoin will be more centralized because all transactions will be supervised by a higher authority.
It will be easier to take commissions directly from exchanges.

[Jessy Mediola]

What if our government add tax whenever we transact fiat-crypto and vice versa, and the fund will be used for our protection(ICO,Scams,Phishings), for example the government will make a group or sector that focuses on crypto environtment. what do you think?

It is brilliant idea through this the crypto will be more secure and more reliable compare to the old one. But the government must be expert in cryptocurrency so it will be worth it to pay taxes. And those taxes will also be helpful to the economy and to the country because it helps many people especially those who experience poverty.

[Harrisonimo]

What if our government add tax whenever we transact fiat-crypto and vice versa, and the fund will be used for our protection(ICO,Scams,Phishings), for example the government will make a group or sector that focuses on crypto environtment. what do you think?

I did mentioned this yesterday that government might be incorporated into bitcoin/Cryptocurrency earnings by taxing every transaction made; via transaction fees. Thereby legalizing Cryptocurrency fully and being able to monitor some of the growth processes.

[ashkanm]

I think it's a great idea. Already transactions from Visa are not tax free and charges are included. Now govt authorities are talking about crypto market in tax issue and want to make so many rules. If tax are set at a point for all the cryptos, traders will be glad enough and feel free to engage in this industry.

[Granxis]

What if our government add tax whenever we transact fiat-crypto and vice versa, and the fund will be used for our protection(ICO,Scams,Phishings), for example the government will make a group or sector that focuses on crypto environtment. what do you think?

This is totally irrelevant because we are running away from taxes and you are asking about tax in crypto is bad for crypto users. Crypto users are investing because it is tax free and is negligible as compared to other currencies. People leave fiat due to the tax and bad transaction system and now the given suggestion will make people to run from crypto as well like they ran from fiat.

No one wants to pay taxes, but how can a taxpayer escape? When we make a shopping we automatically pay taxes, or things like gasoline, alcohol and taxes. To avoid the tax; we need to transfer money to the international, using crypto moneys.

[patz22]

Taxing crypto should be the same percentage as the current tax for any other income. Well, our earnings in crypto is basically much higher than any regular job. It is fine with me since it is for the improvement of our economic state (I am living in a 3rd world country) and recently our country decided to allow crypto and have a crypto economic zone that will create employment and generate tax. Reference: https://news.bitcoin.com/philippines-welcomes-crypto-economic-zone/

[victoryana]

Taxes make for a safer encoding environment. If so, I fully support tax collection to create this safe environment, and the government will charge a large amount of money and the charge will be used. management for currency

[ASHLIUSZ]

Government doesn't have a separate plan on the tax collection, whatever manner taxes been collected it goes to a combined fund. From there it gets used on various other needs. The tax collected from a particular process similar to cryptocurrency won't get used for the development of the cryptocurrency related services.

[knightmairesaint]

Government doesn't have a separate plan on the tax collection, whatever manner taxes been collected it goes to a combined fund. From there it gets used on various other needs. The tax collected from a particular process similar to cryptocurrency won't get used for the development of the cryptocurrency related services.

True and to make it short, crypto processes, transactions and services can be taxed but there is no guarantee that the funds will all go to crypto. The allocation of funds will depend on the budget plan wherein the most important things for the welfare of the country like education, medicine and etc. are where most of the funds goes too.

Cryptos are not that important to the government so we can assume that crypto would be put to the "Others" category in budget planning. Anyways, we are also paying tax through services so if we want better security for our cryptos why not just increase the security directly. I don't think that putting tax directly in crypto services will help us making crypto environment safer.

[qwertyup23]

What if our government add tax whenever we transact fiat-crypto and vice versa, and the fund will be used for our protection(ICO,Scams,Phishings), for example the government will make a group or sector that focuses on crypto environtment. what do you think?

A lot of implications would happen once the government intervenes and imposes tax in cryptocurrencies. First, bitcoin’s decentralized nature makes it a perfect vessel for investors as tax is obsolete, unlike in any other investment mechanisms. Second, if the government imposes tax, it is safe to assume that they have regulation or control towards the system. This may be beneficial in terms of having collateral but it may significantly decrease its price. Lastly, investors would shift into a new type of investment mechanism as the returns are what make bitcoin unique.
Though it really is a double-edged sword depending on where you look at it, I would prefer that the government would support its existence without having to impose prejudicial laws against it.

[South Park]

What if our government add tax whenever we transact fiat-crypto and vice versa, and the fund will be used for our protection(ICO,Scams,Phishings), for example the government will make a group or sector that focuses on crypto environtment. what do you think?

That's a bad idea, society should always aim to have as few taxes as possible. The first reason is corruption and bureaucratic inefficiency - often times when governments try to solve some problems, they fail and waste money in the process. The second reason is that it's just unfair for those who are willing to take risks and confident in their own judgement in crypto sphere - they would be paying a tax for a service that they don't need.

I agree with this, I do not know why some people get the idea that more taxes are a good thing maybe they think they are not going to be affected by those taxes and they're going to get benefits out of it, but taxes should only be applied when necessary, more taxes only create more poor people and also the bigger the taxes the more people are going to try to avoid them.