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Some countries start imposing taxes for crypto traders

  • Thread starter Thread starter hani20980
  • Start date Start date
They've grown frustrated around the anonymity of the coins and the way fraudulent individual are using it to steal public funds.
 
It might have occurred to them or come to their notice that crypto traders are making good money and they thought it wise it could be a good revenue to them if they impose this tax on the traders
 
Before the recent dip in the cryptocuurency market, countries have been trying to impose taxes on every cryptocurrency transactions but it's still being put in place.
 
To me imposing taxes on something that generates income for one that hardly makes ends meet is not right,the government should try looking up on the matter
 
Yes some countries have started imposing taxes on crypto but the truth is i still wonder how they can monitor it considering crypto is not a physical cash someone can hold in hand and due to that it makes me wonder what is the best way to handle certain things because my countries government surely one day will consider it considering they don't make any sort of interest from it currently
 
mariusMACO said:
... he will charge taxes to breathe air soon.

It is not yet official with crypto fees, each country will decide separately.
Click to expand...

Seriously, our country's government can be very annoying in most cases to the extent of madness with the kind of policies that they wake up to make.
 
If this news about taxing the profit of traders in South Korea then it might be a prelude for some strict laws later on. Governments are not acting against the crypto industry because the are still doing some investigations. Crypto coin is illegal because they don't pay taxes.
 
The government can still initiate task around it if they want it. They're just feeling disillusioned around the coins without trying to prioritize it as investment source, others have prioritize it while some are still not haooy with it's development.
 
It will mean these countries are begining to be open to the idea of allowing cryptocurrency into their mainstream economy. And it might also mean the profit margins enjoyed before the tax regime will be greatly diminished
 
One of the reasons why BInance has been banned in a lot of countries is due to the tax evading. Since Binance was not registered in the countries where it was operating, it w snot paying taxes.
 
That's exactly how government policies influence the price of the cryptocurrencies. There are a couple of countries that collect tax from crypto investors . One of such countries is the US. This are the major variables that affects decentralization
 
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