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Do you think Biden's insistence to tax crypto traders will affect BTC, ETH and other coins value??

  • Thread starter Thread starter Sincerem
  • Start date Start date
Exactly my brother. Biden decision could hamper of make the crytocurrency market. Just know that every major decision taken will resort to either positive or negative effect.
 
Considering the significant drop in price major coins have witnessed, it's safe to say that Biden's stance is affecting the market. The effect of the news will soon fizzle out though, and crypto market should enjoy another spike.
 
If the president of the United State of America decides to impose a law that every cryptocurrency traders have to pay a certain tax , if the law is not favorable to crypto traders and investors then there will always be a drop... It will definitely have a serious impact in the whole crypto space.
 
Sincerem said:
News bursting this morning 23/04/21, on the radio stations, television channels, and the world wide web etc. Said, Joe Biden's administration wants to put a law that demands every crypto trader in the united state, paying tax for their involvement in crypto investment. It is viewed as a means of generating more revenue income to the U.S government, since Cryptocurrency investment is on the massive growth. Do you think taxing every trader will halt the progress around Cryptocurrency?? Already the negative effect is taking place, all the coins are on the massive drop after the announcement.
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We could see that after that information, there was a reduction in price, dip if we may call it which is to ascertain that the crypto market deals with news which may affect the market positive or either way
 
I believe his taxes regulations on cryptocurrencies have a negative effect as it would definitely make a lot o people to lose interest in cryptocurrencies as no one ever wants to get caught up in such taxes .
 
This is the reason why most of the countries kicked against cryptocurrencies. The users don't want to pay tax and they used as a means of tax evasion. It's very important to pay tax for using cryptocurrencies.
 
I don't really think that it will cause a significant change in the market sentiment but their is no way that it will not cause a minor effect on the cryptocurrency market.
 
The United States has a lot of cryptocurrency investors and traders and therefore any decision that is made will probably affect the cryptocurrency market either negatively or positively. It is therefore left for you to capitalise on any of them to make money.
 
Biden insistence on charging people trading in crypto currency will definitely affects the trade of HTC and ETh because the tax might be too much for the investors to handle and thereby causes the decrease in crypto trading
 
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