• Please note to have a link in an article you must first request permission from the administrator and pay a fee. You can read more information here.

Can governments charge bitcoin users?

  • Thread starter Thread starter hani20980
  • Start date Start date
Donkiz said:
Cryptocurrency transactions are not regulated by any government agency, therefore users cannot be taxed. But any government that is serious about getting some revenue from cryptocurrency transactions can join force with some exchange platforms to charge users some amount per transaction.
Click to expand...
That is just it, bitcoin is is simply a decentralised currency, government can only get tax form bitcoin users if the make it an official currency just like El Salvador did.
 
The government can charge the bitcoiners. It's one of the strategy that could be adopted to regulate or influence the crypto related activities. It is very possible that the government imposed charges in the form of tax to the bitcoin holders.
 
Well i think its possible but it would be from your bitcoin profit that they would deduct the tax and when you buy or sell bitcoin , the tax would be deducted too , i think in some countries such policies have been taken into consideration, and many people can trade with legal regulation
 
The government cab actually charge the bitcoin users as taxes. The charges will be levelled on the cryptocurrency exchange and institutions executing crypto related activities.
 
Some governments trying to ban bitcoin is evident that they are not happy with the existence of bitcoin and may want to do everything possible to frustrate users by finding a way to tax them. But this would be a very tedious work just as someone already mentioned above.
 
Well, the government can not easily impose taxes on the used of bitcoin this is because there are several and different numbers of government from different countries and their agenda can not be the same.
I don't think, there is any possibility for the government imposing tax on the operation of bitcoin because the bitcoin operation is not centralized and it can not be estimated.
 
Last edited by a moderator:
If the government are serious to do it there will definitely do it, if the government of America or any other country like the Europe decide to charge every cryptocurrency user then the possibility of Bitcoin crashing to a low price will be very high.
 
I don't really think that government can imposing taxes on bitcoin users because it will be very difficult for them, government don't have such power to charge
 
Government can charge bitcoin user. Government noticed that Bitcoin investors are making cooled money, to the extent that some are called Yahoo boys this is why government focus on how they get their money and starts to collecting tax from them indirectly.
 
A wise government will explore and exploit all the opportunities that bitcoin and crypto currencies in general has to present, they will not fold their aems and look and allow a gold mine like bitcoin to slip past them. Although wise ones amongst them have already started tapping into it like El Salvador and some other south American countries.
 
The government have no control over cryptocurrency transactions, that is why some of them make the move to ban it. They are seeing millions being transacted on a daily basis, but they don't get commission from them. Government has no control whatsoever on cryptocurrencies.
 
Well that remains to be seen but I doubt that and if it does come into play won't be for a number of years because the decentralized nature won't make it so but we never can tell so fingers crossed
 
I dont think, the government can ever impose tax on the operation of bitcoin or cryptocurrency. this is simply because it's not centralized and independent of their control.
 
The crypto currency is a Decentralized currency which is independent of any control from financial institutions or government, so the government cant directly charge crypto users of any fee whatsoever.
 
I personally do not think the government has the right over cryptocurrencies except to control the sector talk less of trying to change the users of cryptocurrencies.
 
Cryptocurrency is one of the ways at which the the people evade taxes . The cryptocurrency investors keep funds in cryptocurrency inorder to avoid taxes as much as possible.
 
The way i am looking at it is that it could be possible if the government incorporate the wallets platform in such a way that it can be monitored,that is the only area that such can happened,else the system is totally decentralised.
 
The government can absolutely charge people who use bitcoin and other cryptocurrencies as there is news that some countries usually tax up to 15% on cryptocurrency gains.
 
Though the united state of America presidentbhave been trying to bring more tax to the people investing in crypto currency, and i think its doing to have a negative effect on crypto currency.
 
I think it is possible for the government to charge the current users because recently we heard a news that the government of India imposed 30% tax on every cryptocurrency transaction. Though they may not totally be able to control it but they can tax the users.
 
You must log in or register to reply here.
Back
Top