Tax on the crypto currency! What do you think?

[Dimon888]

Now the government does not have the ability to control the flow of the crypto currency. Therefore, they can not impose a tax. But during the exchange of crypto currency on Fiat you have to pay tax.

[richardsNY]

before goverment withdraw taxes from crypto market, they must prepare about its legal standing.if that already clear about legal standing, they can take taxes from cryptomarket.

How old are you? Have you ever paid tax? Probably not. Crypto isn't anything special and fits in pretty much every possible declaration form. Legal status only matters in the way that people within a specific country know what it is categorized as. Based on that, you may see crypto or/and your activities suddenly fit in a different tax category. In some cases it might work in your advantage and in some cases not. If we look at Japan's crypto regulations, it's quite harsh, but they are already looking to soften things up in our (the crypto enthusiast's and user's) favor. In other words, don't assume that you aren't subject to tax, because you are....

[2beAmillionaire]

For me,if the government will seattle a lot about the cryptocurrencies,and it will be actually legalized,i am also the one who are willing to have taxes in cryptocurrency. It it really good if we are doing anything in crypto world freely,while the government also benifited for it.

[Lpim01]

Well I think taxation in cryptocurrency could be a long long process since its population has already can sum up to a very huge amount. Judging the situation right now the i must say that taxation is really impossible.

The motive of the government imposing taxes to all crypto holders is good cause it is big help also to our economy unless it won't be abused by them. People are get worried when it is finally imposed cause there is possibility that it could affect the market price and no chances that it will go higher,

[weblouartisan]

For me,if the government will seattle a lot about the cryptocurrencies,and it will be actually legalized,i am also the one who are willing to have taxes in cryptocurrency. It it really good if we are doing anything in crypto world freely,while the government also benifited for it.

I dont think that taxes on cryptocurrency is necessary because people who are interested on investing bitcoins are already paying transaction fee's so taxes are not necessary because the fee's can already compensate into this taxes.

[Cryptogames999]

Everywhere the tax is arising so it would be important for all. I would appreciate if they dont put taxes although the price  is always fluctuating.

[patarfweefwee]

whatever the kind of tax imposed on crypto currencies maybe, what matters is that you could always minimize the amount of money you need to pay or even get away from paying it altogether. it'a only a matter of really studying the tax laws in you country. it would also help you have someone who knows their way around the tax laws. i myself have a friend who is a corporate accountant so i can ask him about it. i mean taxes are good, but i sure as heck won't make the big wigs in my country richer.

[entrepmind23]

I dont think that taxes on cryptocurrency is necessary because people who are interested on investing bitcoins are already paying transaction fee's so taxes are not necessary because the fee's can already compensate into this taxes.

There is a difference between a fee and a tax. Transaction fee would be paid to miners while the tax would be paid to the government for your obligation as a resident or citizen of the country because you are enjoying the benefits of what the government has built. It is the blood of the government and it cannot function properly without tax (funds) so if you want to help your government then you should pay your tax properly but due to corrupt government officials, we are just disappointed when our money will just go to an individual's pocket.

If you earn some income from cryptocurrency trading or any activity then you should pay tax too but I doubt that all pay their taxes because it is not directly traceable yet as to who earn an income so you have a choice to declare your income and the applicable tax as well.

[South Park]

If we do have to pay taxes then:
1. We should think of cryptocurrencies same as stocks - pay taxes anytime we sell a cryptocurrency and make a profit, not when crypto is bought.
2. Same as with property tax in some countries -  taxes should be much lower if you own cryptocurrencies for more than one year and then sell them
3. you should be able to gift or donate your cryptocurrency and not pay taxes, if you have not sold it with a purpose to earn

That is not too bad, but there are some countries that want to charge a tax on each bitcoin transaction that you made even if you are only buying a coffee with it, that kind of taxation is going to kill the usage on everyday transactions of bitcoin but people could still use it as a store of value to protect the value of their money from fiat devaluation.

[Hatuferu]

I dont think that taxes on cryptocurrency is necessary because people who are interested on investing bitcoins are already paying transaction fee's so taxes are not necessary because the fee's can already compensate into this taxes.

There is a difference between a fee and a tax. Transaction fee would be paid to miners while the tax would be paid to the government for your obligation as a resident or citizen of the country because you are enjoying the benefits of what the government has built. It is the blood of the government and it cannot function properly without tax (funds) so if you want to help your government then you should pay your tax properly but due to corrupt government officials, we are just disappointed when our money will just go to an individual's pocket.

If you earn some income from cryptocurrency trading or any activity then you should pay tax too but I doubt that all pay their taxes because it is not directly traceable yet as to who earn an income so you have a choice to declare your income and the applicable tax as well.

I think taxes will be already implemented in every transactions we made but it also depends on how big or small your transaction is.Its like having a good income with cryptos will surely pay taxes quite a bigger one compared to those who earned only a minimum one.

[JohnWick_Bitcoin]

Well I think taxation in cryptocurrency could be a long long process since its population has already can sum up to a very huge amount. Judging the situation right now the i must say that taxation is really impossible.

In my own opinion, tax on cryptocurrency is not necessary because most of the people who are investing a huge amount in bitcoins are already paying the transaction fee's.

[Sled]

I'm in favor with it as long as the tax from the cryptocurrency will be used in a right way and not corrupting it and putting it to their own wallet or pockets. We all know that corruption is common to the countries in the world but we should still try to remove it from our world because if there is no corruption then it means faster mode of progress.

[ucingucingan]

I think that's a good thing, especially if the tax on the government's crypto currency can legalize and protect its use, if it happens is not impossible, the selling point of crypto currency can become more expensive now

[adamlillian]

 I think it would be reasonable if we were protected by the government. We really need a change from Cryptocurrency. Fraudulent attacks and hacker attacks are increasingly commonplace. We need to be protected by the government to avoid these bad cases. If paying taxes to be protected from fraud, I fully agree.

[rommelo24]

I think it is not realistic to be deaf in the country for every citizen, how much he owns crypto-currencies. Yes, and still recover the tax from it. To be able to collect taxes, the state should control the system itself, where the crypto currency is actually used - and this is not realistic for a single country. Scales are too huge.

Taxes are good for the betterment of a country if not corrupted. It is okbfor me to pay taxes in crypto because of the benefits it can provide for my country.

[jlong187]

 I think if my country would put out the wise and regulative tax system for the hunters and traders, I would agree to pay that

[neya]

If bitcoin will legalized here in our country its ok for me if they taxed the bitcoin rather than they will banned it.we cant do anything about tax so will just follow the government.and i will.pay tax for my bitcoin.

[Tatsuyashiba]

If the government starts receiving bitcoin in the country, maybe they will make a law on bitcoin taxes. Because every bitcoin transaction happens every day and they will make such rules. Because every transaction that many governments will handle.

[Chrisjay29]

For me i think those taxe models are good to me. As long as the government wont make it big. Taxes help our country economy if you help your country you help your family friend and you. Because all of the taxes will return to us. So why not taxe

[futile-resistance]

It would be fine for me to pay tax for as long as the rate would be fair enough, if we are not paying tax as of the moment it does not mean that we will never pay tax since the government will never let that happen so let us just accept it.

It sounds irrelevant that the governments are now looking after us and want to implement tax here as well. This is out of mind if something is not a part of asset then how can we see the implementation of taxes there? Cryptocurrencies are called currencies and not an asset just like fiat currencies so tax implementation is not possible here. So this is a currency and it is bad to pay tax on it.