[2018-12-26]How to Deal With Cryptocurrency Taxation, Summary of the Year That J

[Vladdirescu87]

How to Deal With Cryptocurrency Taxation, Summary of the Year That Just Finished

Taxes have always been a hard matter for everyone to deal with. Many countries are devising different rules, trying to manage the fintech field. Traders from all parts of the world are facing the necessity to pay taxes from their crypto activity.

With the growing number of crypto users, authorities around the world have found it necessary to tax the profits from this new area. For instance, the United Kingdom introduced a crypto tax advice paper, stating that each investor must pay capital gains tax for selling digital currency such as Bitcoin.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/how-to-deal-with-cryptocurrency-taxation/

[rodskee]

Harder and difficult to collect taxes from the crypto currency
It's years discussion all about how government collect taxes from crypto
One of the reason government want to regulate crypto because they want to collect taxes
But how to regulate volatile currency using by new technology
I think the solution for this is the local exchange registered from the local givernment can responsible to oay taxes in the government

[pixie85]

The best way to deal with crypto taxation is to live in a country where this taxation doesn't exist. And if you don't live in such country, don't trade your crypto until you move there. Don't waste your time trying to deal with all this legal mumbo jumbo. Live somewhere where they will congratulate you for using cryptocurrencies instead of trying to steal from you or put you in jail.

[btyco]

Tax avoidance is one of the reason why a lot of people get into crypto in the first place. It's a way for whales to hide their wealth and for average people to get paid without losing a quarter of their salary to the tax man