Can governments charge bitcoin users?

[hani20980]

Do u think gouverments are able to impose taxes on Bitcoin users or can users easily evade taxes ?

 

[Niftyyem]

I feel that with the anonymous nature of bitcoin, government can only tax you on what you have declared as your btc assets. Verifying that may be a tad tedious.

 

[Sariana23]

I believe that the rulers, at the end of the day, do what they propose, they charge with national or international currency. And if we talk about evading taxes, it is not recommended, you would be acting outside the law

 

[Bookwormlux]

Governments can never find it easy imposing taxes on Bitcoin users. It would be very difficult. Individuals have different wallet and it won't be good paying taxes for each of the wallet.

 

[Ojonuyo]

Yes there can charge Bitcoin user. And not only Bitcoin user even ethereum users, litecoin usere, altcoin users and ripple coin user. This made possible because of the coin base security system that has been set in place the government to monitor and surpervise the activities of crypto currency.

 

[Ehizzy1]

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

 

[Chibson]

That may be possible but I don't see that happening anytime soon because Bitcoin and other cryptos are decentralized.
Except there are some laws which I already heard of to checkmate I monitor the activities of Krypton users.

 

[Succjay]

Yes they can because of some government regulations that has been put in place regarding bitcoins. They can easily deduct their taxes during the transaction between the buyer and seller.

 

[Emma Aneni]

I think it's a big Yes there can charge Bitcoin user. And not only Bitcoin user even ethereum users, litecoin usere, altcoin users and ripple coin user. That may be possible but I don't see that happening anytime soon because Bitcoin and other cryptos are decentralized.

 

[Dylinks]

Government can never regulate Bitcoin, how much more talking of charges. The workability of Bitcoin can't embraced by government because it will expose their hanky panky games. People will monitor the activities of the government officials if charges are levied on Bitcoin. The way the world is moving there is need to embrace Bitcoin.

 

[kayode10]

There is no way the government can charge bitcoin user directly. But it can be done indirectly. They can charge bitcoin user indirectly by asking the wallet companies to pay certain amount to the government as a value-added tax. The company that owns a wallet which people used to receive bitcoins and other cryptocurrencies will not want to lose. As a result, they are going to charge VAT on every transaction made by the Bitcoin users.

 

[ahmedo24]

Government that can charge Crypto Currency users are the government that has officially legalized the use of Crypto currencies in their respective countries. It is not difficult to achieve that because people will eventually convert their Crypto assets to fiat currencies through Exchangers or ATM so they can easily charge them there.

 

[Dubai]

Do u think gouverments are able to impose taxes on Bitcoin users or can users easily evade taxes ?

Since it is an e-currnecy, it would be difficult to monitor and tax the users of cryptocurrency. Bitcoin is digitally decentralized means of exchange that can not be regulated, and as such I doubt if any government can tax the users.

 

[mcjerry]

Do u think gouverments are able to impose taxes on Bitcoin users or can users easily evade taxes ?

They might want to try it. Before they can try that they would have accepted crypto currency. But even if they try to impose taxes on bitcoin users will they be able to be successful in that. Because I don't know how they will know who have and don't have bitcoin as it is anonymous

 

[Jimmie150]

There is no regulatory body for bitcoin and at such I don't expect the government to be able to charge for it. Because they are not in control of it in any way at all. But probably in the few we might see something related to that.

 

[Ridorz]

I can say it's very possible if government want to be taking taxes on every one using Bitcoin but it won't only Bitcoin but all the any kind of crypto currency. Therefore, government want to do that it will be through a transportation of cryptocorrency they would be deducted money with charge fee, that action will be agreement a wallet management and government.

 

[Onachukwu]

The majority of Bitcoin users are law-abiding people motivated by privacy concerns or just curiosity. But Bitcoin’s anonymity is also a powerful tool for financing crime: The virtual money can keep shady transactions secret. The paradox of cryptocurrency is that its associated data create a forensic trail that can suddenly make your entire financial history public information.

 

[Azhar119]

Bitcoin users don’t need the existing banking system. The currency is created in cyberspace when so-called "miners" use the power of their computers to solve complex algorithms that serve as verification for Bitcoin transactions. Their reward is payment with cyber currency, which is stored digitally and passed between buyers and sellers without the need for an intermediary.

 

[Donkiz]

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.

 

[eenya00]

At least for now that I am aware government does not have such power or it is not in their jurisdiction yet to impose charges on your cryptocurrencies but I believe in the future they will look for every means to put charges all your cryptocurrencies or on your crypto wallets.