The End of Anonymity and the Start of Tax Hell for Crypto

[bhadz]

They can't remove the anonymity of crypto's but they can tax it. This is where the reality goes, everything that can be a source of income for the people is taxable by the government. They just have to amend a law that allows their government to tax the crypto profits of their citizen. And this is already happening though not directly, responsible tax payers are declaring their profit online though crypto's isn't recognized by the government they just declare it voluntarily.

[Perfect35]

Governments are dreaming of removing anonymity from Crypto. They see Crypto as a taxable goldmine and they want to cash in.

Any thoughts? Check the post on Medium on the topic.
https://medium.com/tabularasa/the-end-of-anonymity-and-the-start-of-tax-hell-for-crypto-38de53cb04c6?source=friends_link&sk=98093ecd7ca8c2753047cbc656c73936 (link below bypasses the Medium paywall)


Any thoughts?

Apart from exchanges, where we give our personally details, projects, most especially ICO and STOs and so on, are gradually making things look more centralized. So i think the governments are achieving their aim and objectives.
We are in a time where cryptocurrency that ought to be private is no longer private.   Altmost everything we want to do now involves giving out personal data.

[CryptoBull31]

Just don't be lazy! Don't use KYC/AML centralized exchanges, don't use centralized & censorable shady crypto projects and only decentralized blockchains with long history of adoption like bitcoin or monero, stay away from closed source wallets and only use open source alternatives like HODLER, Electrum or just Bitcoin Qt, and how is the government or anyone else gonna stop it? Bitcoin was designed to not need government for permission.   

[faceoff97]

Governments are dreaming of removing anonymity from Crypto. They see Crypto as a taxable goldmine and they want to cash in.

Any thoughts? Check the post on Medium on the topic.
https://medium.com/tabularasa/the-end-of-anonymity-and-the-start-of-tax-hell-for-crypto-38de53cb04c6?source=friends_link&sk=98093ecd7ca8c2753047cbc656c73936 (link below bypasses the Medium paywall)


Any thoughts?

Apart from exchanges, where we give our personally details, projects, most especially ICO and STOs and so on, are gradually making things look more centralized. So i think the governments are achieving their aim and objectives.

People are now missing the point, the anonymity becomes no use for them. Centralized exchanges that requires KYC should be not supported. We should remain in decentralization of blockchain.  Holders should remain on freeing themselves from any control. Wallets that are closed source should be promoted like electrum and hodler wallet. Using this kind of storage should be known by many since we have to keep them in the freedom from the control of third trusted party.

[oioioi]

obviously they are angry because the circulation of money in crypto is all the money in the world, they are difficult to detect because crypto has no connection with the government. anyone can have a lot of money without paying taxes

[khoapham89]

Any thoughts? Check the post on Medium on the topic.
https://medium.com/tabularasa/the-end-of-anonymity-and-the-start-of-tax-hell-for-crypto-38de53cb04c6?source=friends_link&sk=98093ecd7ca8c2753047cbc656c73936 (link below bypasses the Medium paywall)

What the bypass paywall? I don't savvy website coding but this is a result when I scan your link with Virus total:


https://www.virustotal.com/#/url/5b20e75ae2334cb7a80c0fbacfbc3650214dcbd50c68d3c06d70f538006e04aa/detection

Who is professional, please check it.

[el kaka22]

Governments are dreaming of removing anonymity from Crypto. They see Crypto as a taxable goldmine and they want to cash in.

Any thoughts? Check the post on Medium on the topic.
https://medium.com/tabularasa/the-end-of-anonymity-and-the-start-of-tax-hell-for-crypto-38de53cb04c6?source=friends_link&sk=98093ecd7ca8c2753047cbc656c73936 (link below bypasses the Medium paywall)


Any thoughts?

I am still welcoming the tax hell and the strict regulations for crypto no matter what. I know it will cripple the economy a bit and make it harder for people to get into bitcoin for tax purposes and works compared to what it used to be but it is still crypto and it still provides the biggest potential for profit. Now in reality traditional ways of making investments like stocks and forex have all these rules anyway so we have to fight them in fair grounds.

It is miles better to be like this than to be anon but seen as a coin that is used for murderers and drug dealers and nothing good. Back in the day that was what bitcoin was and globally known as a dangerous thing. My mom and dad used to call me up and tell me the bad news they saw on media that night and they were scared and always said "try to stay away as much as you can" 4-5 years ago, now they are quite happy that I am in crypto business.

[Grim149x]

For me, it's fine not to be anonymous in crypto but I really prefer the convenience and transparency of crypto.

[JohnMacZeppelin]

De-anonymization is still really a very terrible thing that comes closer and closer to us, because the closer we move to new facets of cryptocurrency, we move closer to verification of wallets.

[rozak]

Governments are dreaming of removing anonymity from Crypto. They see Crypto as a taxable goldmine and they want to cash in.

Any thoughts? Check the post on Medium on the topic.
https://medium.com/tabularasa/the-end-of-anonymity-and-the-start-of-tax-hell-for-crypto-38de53cb04c6?source=friends_link&sk=98093ecd7ca8c2753047cbc656c73936 (link below bypasses the Medium paywall)


Any thoughts?

if the government collects taxes from crypto it means that cripto has been accepted and is not illegal anymore. if that is true I don't think it is a problem because the obligation for us as good citizens must pay taxes, as long as we benefit from it.

[great.crypto.finansist]

It was predictable in advance. The governments of the countries certainly will not give up solid revenues to the national budget. The steps to this are already being done - on the crypto exchanges for more than a year, full verification is required for full-fledged trading. This means that at any inopportune moment the crypto exchange, at the request of the security forces, can transmit information about participants in the crypto market.

[sumangs]

Governments are dreaming of removing anonymity from Crypto. They see Crypto as a taxable goldmine and they want to cash in.

Any thoughts? Check the post on Medium on the topic.
https://medium.com/tabularasa/the-end-of-anonymity-and-the-start-of-tax-hell-for-crypto-38de53cb04c6?source=friends_link&sk=98093ecd7ca8c2753047cbc656c73936 (link below bypasses the Medium paywall)


Any thoughts?

Collecting tax is also knowing the person who uses crypto as payment and it also means that it is not decentralized anymore because there is a person who controls its system. A reason why crypto are made because of anonymouse transaction that leads for a secure contract. Applying tax for it removes a relevant reason why it is made.

[leviathon]

Governments are dreaming of removing anonymity from Crypto. They see Crypto as a taxable goldmine and they want to cash in.

Any thoughts? Check the post on Medium on the topic.
https://medium.com/tabularasa/the-end-of-anonymity-and-the-start-of-tax-hell-for-crypto-38de53cb04c6?source=friends_link&sk=98093ecd7ca8c2753047cbc656c73936 (link below bypasses the Medium paywall)


Any thoughts?

Not really surprised, I mean did we really think that we were going to get away with not paying taxes on our crypto earnings for a long time? It is also a good thing because if the governments have a way to tax the earnings then they have nothing against making the coins legal for general use which in the long run is a win win for everyone involved