Taxes and regulations

[Gagah119]

If crypto is considered a property and taxed, I think this will be a tremendous pressure for crypto holders even though in the future crypto prices will improve, because crypto is an invisible asset, unlike gold.

[gabmen]

I think crypto currency is used widely now as an investment option, so i think the government should just tax it as an investment option. I myself think that the government should have a cutnon the piece of the crypto currency pie so that the government xan protect the interest of the hoders of crypto currency.

That's for security purposes why the authorities implemented it, but this wasn't general yet. Some countries has no regulations and taxes for cryptocurrency. I think some planned for regulations but not yet established due to some conflicts of crypto operators, who hasn't yet doing well on their business.

I don't see any reason why the government of the countries who are yet to legalized cryptocurrencies will regulate or place a tax on cryptocurrency not to talk of they trying to protect the interest of the holder of cryptocurrency. Unless, if those government are selfish type.

Well i don't think it's time for that yet since many exchanges are still not implimenting kyc's and it would be a little difficult to track anonymous investors. The problem with taxing it is opens up this market to government corruption which is basically what people in here are happily enjoying without.

[Boh manok]

In my opinion, if this bitcoin is used as a payment tool, then this bitcoin will not be taxed because something that is a medium of exchange is not a taxpayer, but if it is used as part of the investment, taxes may be used, because something that can increase the wealth or value of an item will be charged value-added tax

[zoeylee]

I think regulations for crypto currrency is hard to be implemented now a days. Taxation is part of the government policy, nobody could disobey this kind of law for this would proceed to the development of the nation.

[tonyja2017]

Today I was on a conference in Vilnius and went on a lecture about cryptocurrencies. I would like to share some aspects which I did't see so clear before. As we know, among those states which want to regulate cryptos, there are those which consider them as property and others as means of payment. The first approach is usually seen when there are tax companies around, because money is not taxed, but possession is. So when a state days they consider cryptos as property, it means they are getting taxed, while this is not the case with means of payment.
What do you think of this?

They can not tax us. This is a decentralized market, and government is just a normal account. It can not control the freedom of the Crypto market. They do not have the power to control everything. So we can easily evade taxes by creating many electronic wallets.

[Snaic]

Today I was on a conference in Vilnius and went on a lecture about cryptocurrencies. I would like to share some aspects which I did't see so clear before. As we know, among those states which want to regulate cryptos, there are those which consider them as property and others as means of payment. The first approach is usually seen when there are tax companies around, because money is not taxed, but possession is. So when a state days they consider cryptos as property, it means they are getting taxed, while this is not the case with means of payment.
What do you think of this?

In whatever official status the cryptocurrency does not remain, the states will still, if they wish, establish a tax on the use of cryptocurrency and the receipt of profit from it. We know that cryptocurrency is recognized in Japan as a means of payment. However, the government there has set a fairly high level of tax and is now going to soften it.

[dmamigo]

Today I was on a conference in Vilnius and went on a lecture about cryptocurrencies. I would like to share some aspects which I did't see so clear before. As we know, among those states which want to regulate cryptos, there are those which consider them as property and others as means of payment. The first approach is usually seen when there are tax companies around, because money is not taxed, but possession is. So when a state days they consider cryptos as property, it means they are getting taxed, while this is not the case with means of payment.
What do you think of this?

They can not tax us. This is a decentralized market, and government is just a normal account. It can not control the freedom of the Crypto market. They do not have the power to control everything. So we can easily evade taxes by creating many electronic wallets.

Countries which has no open crypto payment system unlike Japan, they have to convert it to local fiat in order to finally use their cryptos. And the govt. can then easily tax their citizens whenever they convert from crypto to fiat. Even if it is a decentralized system, the government will find ways to tax them and remember cryptos are not 100% anonymous, so the government will find those who will be evading taxes.

[Ludmilla_rose1995]

Taxes are funds collected from the community used by the government to finance the state. Every person who already has income must pay taxes. The tax calculation applies equally to everyone including the president, businessman or ordinary employee.

So in my opinion, even though crypto is considered a means of payment in a country, crypto holders also have to pay taxes.

[fianaindriati]

If crypto is considered a property and taxed, I think this will be a tremendous pressure for crypto holders even though in the future crypto prices will improve, because crypto is an invisible asset, unlike gold.

I think indeed with the tax for bitcoin, indeed it will reduce the income that has been generated by people. because until now the bitcoin is in demand by many people, because it is not taxed.

[Semosuchi Tesongrato]

With the campaign of denigration towards the crypto, governments have achieved their goal, that is, removing "average" people from virtual currencies.
Thus, they reduced the phenomenon - which will now take time to recover - and in the meantime have gained time to study a system to control the currency market. We'll see what happens.

[jabrix]

Taxes are funds collected from the community used by the government to finance the state. Every person who already has income must pay taxes. The tax calculation applies equally to everyone including the president, businessman or ordinary employee.

So in my opinion, even though crypto is considered a means of payment in a country, crypto holders also have to pay taxes.

I strongly agree, because taxes and regulations are the authority of the government with the aim of the development and prosperity of the people.
Without tax, the government cannot move the construction wheels so that the expected simultaneous effects such as a developing economy can be expected.
Therefore crypto must be taxed, but it is too burdensome so that crypto trading can grow.

[Naida_BR]

If crypto is considered a property and taxed, I think this will be a tremendous pressure for crypto holders even though in the future crypto prices will improve, because crypto is an invisible asset, unlike gold.

I think indeed with the tax for bitcoin, indeed it will reduce the income that has been generated by people. because until now the bitcoin is in demand by many people, because it is not taxed.

By imposing taxes the cryptocurrency ecosystem will be more clear to people as it is right now too vague to understand especially merchandisers cannot implement crypto as a payment method easily because the regulation is unclear. I think that bitcoin is already taxable indirectly from the government. The difference that can be done is to be taxed upon a transaction which I think will be disastrous.

[viananda2525]

Taxes are funds collected from the community used by the government to finance the state. Every person who already has income must pay taxes. The tax calculation applies equally to everyone including the president, businessman or ordinary employee.

So in my opinion, even though crypto is considered a means of payment in a country, crypto holders also have to pay taxes.

I strongly agree, because taxes and regulations are the authority of the government with the aim of the development and prosperity of the people.
Without tax, the government cannot move the construction wheels so that the expected simultaneous effects such as a developing economy can be expected.
Therefore crypto must be taxed, but it is too burdensome so that crypto trading can grow.

taxes from cryptocurrency market has good potency.i am sure cryptocurrency will contributed huge amount to government income source if they already regulated it.and they have to consider it.

[jakezyrus]

I strongly agree, because taxes and regulations are the authority of the government with the aim of the development and prosperity of the people.
Without tax, the government cannot move the construction wheels so that the expected simultaneous effects such as a developing economy can be expected.
Therefore crypto must be taxed, but it is too burdensome so that crypto trading can grow.

Without tax, the government cannot move the construction wheels so that the expected simultaneous effects such as a developing economy can be expected

not at all time's the tax can go from the development of a country . in most cases the tax will only go straight to the pocket of the government officials  .

Therefore crypto must be taxed, but it is too burdensome so that crypto trading can grow.

tax cant help the crypto trading to grow . it can actually help lessen the volumes of trade because people will llikely exit crypto if they knew that it was being taxed .  can you imagine the charges ? tx fees + trading fee + withdrawal fee + tax =

[sempak]

If crypto is considered a property and taxed, I think this will be a tremendous pressure for crypto holders even though in the future crypto prices will improve, because crypto is an invisible asset, unlike gold.

Cryptocurrency is actually more suitable if it is referred to as a commodity like gold because indeed in my country cryptocurrency has been acknowledged and certainly taxes are obtained from the disbursement of one's funds

[breathlessz]

Taxes are funds collected from the community used by the government to finance the state. Every person who already has income must pay taxes. The tax calculation applies equally to everyone including the president, businessman or ordinary employee.

So in my opinion, even though crypto is considered a means of payment in a country, crypto holders also have to pay taxes.

I strongly agree, because taxes and regulations are the authority of the government with the aim of the development and prosperity of the people.
Without tax, the government cannot move the construction wheels so that the expected simultaneous effects such as a developing economy can be expected.
Therefore crypto must be taxed, but it is too burdensome so that crypto trading can grow.

taxes from cryptocurrency market has good potency.i am sure cryptocurrency will contributed huge amount to government income source if they already regulated it.and they have to consider it.

of course, with the regulation it will make many investors enter the cryptocurrency market, so the government can collect taxes from crypto, so that important regulations to increase taxes from the crypto sector

[Dimas99]

The government has the right to ask what is due to them as it is clear in the government code that every citizen's of the country should pay taxes. But here in crypto we need regulations to move forward and gain the mass adoption.

it should be so if the legality and rules of definite tax will also be used as a rule if indeed with the existence of taxes can make security and comfort in investing I think it will be something natural we will get into investing

[sirminesalot]

It all depends to the state where you are belong. This debate will never end that most of us treats bitcoin as traditional assets but there are people who are against with it. With the last G-20 conference, bitcoin has been classified as an asset so I guess every state will follow that declaration but they are also free to think of it if they don't see it as an asset, it's up to them.

legality that can make tax and government regulation if the state has legalized the crypto currency automatically and if the tax does not burden and harm investors I feel good to apply

[Kolua20]

I think that you can not take cryptocurrency as "property". This is extremely not reasonable. Cryptocurrencies are digital currency, money, and imposing a tax on money is accordingly silly.

[bettercrypto]

I think that you can not take cryptocurrency as "property". This is extremely not reasonable. Cryptocurrencies are digital currency, money, and imposing a tax on money is accordingly silly.

As of now, governments consider cryptocurrency as "digital assets" that being used in investment. These digital assets are like gold where prices fluctuates based on speculations. These digital coins can be classified as property. Though we know that this is not the real purpose of the coins. The question is when can we consider these coins as currency? As soon as the application of the blockchain go mainstream.