G20 wants crypto Taxation?

[ppadilllla]

What i like about crypto is mainly because of no taxes and now this? Not only taxation but also regulation.

[dothebeats]

It is bound to happen, IMO knowing that there are tons of money flowing inside the crypto space everyday. They don't want the money to be restricted and confined into an asset alone; they need to have some share of the pie, too. Also knowing that bitcoin and crypto can be converted into fiat, they feel the need to look over and regulate the space, so as to ensure that the citizens will be 'safe' on the cryptospace.

[CryptopreneurBrainboss]

It's possible, with the rate in which centralized system are dominating the cryptospace both taxation and regulation by government bodies can occur. Let's take binance and coinbase as example, if the government wants to tax every withdraw/deposit they can also they're already on few regulations. The taxation/Regulation can't be done if bitcoin major allies remains decentralized but they're all getting centralized so a future possibility of regulations/taxation is possible.

[Miklight88]

This government of a thing never want their citizen to succeed, all they care is to take from where they didn't not contribute and enrich them self , crypto is known for volatility and every one knows it can turn red , will the government share in the lost too if they require tax from profit , am sure definitely NO is the answer why can they just let people be and let decentralized rules.

[timotron]

There are taxes on crypto, it is just easy to evade taxes with it ^^

Sure they want to tax crypto, as they taxed everything they can, when taxes for air sir? haha....

[muslol67]

What i like about crypto is mainly because of no taxes and now this? Not only taxation but also regulation.

In fact, paying tax is a good thing, although at first glance it may seem like a bad thing. This means that states are now officially recognizing crypto money.

[ecnalubma]

That's a sad reality, even if we don't like taxes we need to abide with the law or else the government will give us headache. As the crypto economy is growing due to the popularity of bitcoin, regulators always keep an eye on it since day one mostly these days since its value grows to billions, thats why the government want to take advantage but they also serve to protect investors by implementing regulations.

[burky156]

I have heard this regulation news yesterday and i gave a thought about it but i couldn't find the answer. First i read it i have said to myself; yes we made it! But then i have realised that could be very bad for us too. Because that doesn't only mean in good way.. This can be hurt the market and could bring big crush as well. I would like to know what do you think about it? Os it good or is it bad?

[kabum21]

Good luck with that, I imagine they intend to implement it to the exchanges, but they can always be established in places where those laws do not apply, let's see how that develops, because I consider that regulations are needed for the survival of cryptos, but also taxes ... maybe is too much.

[Mr.trader]

government does not accept bitcoin without tax and regulations for sure   

[Isiaka208]

To and to a number of crypto recognitions, and adoption, we can in a way say its for a good cause. We should only not be taxed to much.

[Stivler]

What i like about crypto is mainly because of no taxes and now this? Not only taxation but also regulation.

What taxes and what regulations? hehe
everything can be done

[arfoxx869]

Let them have it, adoption will be on its way

[Wingleness]

Regulations might not be that easy to pull through without taxation thus the more reason government is trying all possible means to get cryptocurrency taxed.

[coinwizard_]

It depends on what crypto you are interested in, they won't be taxing stuff like deeponion or monero so you can always stick with privacy coins instead. Those are the way forward when regulation comes in

[CryptoGosu]

Regulators want to receive taxes on cryptocurrency. This is not surprising. But I do not understand why they have not been able to pass laws on regulation for so long.

[hubballi]

Regulating the crypto is good because as their were so many scam ICO which cost so much loss to the investors to stop it has to be regulated and it is healthy for the crypto community. About taxing, if it is happening then it is very good thing as it means that it is legal to use and now you can freely use crypto currency in all way of business

[Lizzylove1]

Well, government will never allow such an investment with some much money in it to go without been tax, they will rather have the flag burnt than not taxing crypto industry. Government has no business doing business, their only business is tax, and their other business is tax. I hate regulations though. But regulation may have to come in because of many scams.

[SistaFista]

What i like about crypto is mainly because of no taxes and now this? Not only taxation but also regulation.

Applying tax to cryptocurrency is not easy, because you cannot know who is the holder from the address only.
But once the tax applied on cryptocurrency, there is a possibility that many peoples will sell their coins to avoid tax and leave crypto.
Cryptocurrency is an encrypted asset, it should not applied with tax i think.

[jemarleon]

It is bound to happen, IMO knowing that there are tons of money flowing inside the crypto space everyday. They don't want the money to be restricted and confined into an asset alone; they need to have some share of the pie, too. Also knowing that bitcoin and crypto can be converted into fiat, they feel the need to look over and regulate the space, so as to ensure that the citizens will be 'safe' on the cryptospace.

In my own opinion they dont even need to regulate it because we all know that it is already safe as long as you private key is safe, its just like your credit/debit card pin.

Im not against on implementing tax on crypto as long as I know that there will be no corruption that will happen.