Introduction Of Crypto Will Increase Money Fraud With Government or Not?

[BraveHeart01 1569]

When you cannot track the cryptocurrency it means there are high possibilities  of what you are talking about that means people will do frauds for cheats in taxes

[Jaafar Fahad Hassan 114]

42 minutes ago, The Game said:

In my own opinion both can happen but the issue of money fraud is a common thing in a governmental system which can never be stopped rather it should be reduce gradually. Government embezzle fiat currency anyhow they like because they are in power so is applicable to crypto currencies too and nobody can stop them. And in the other hand money fraud can be prevented when they make all the necessary arrangements intact without involving third party @Jaafar Fahad Hassan

Money fraud can be prevented definitely, Fiat fraud is the challenge we face in our everyday life, since I was born, there has been ways people fraud Fiat money, anything that has to to with exchange by bather will generate fraud,not only cryptocurrency @The Game

Edited December 11, 2020 by Jaafar Fahad Hassan

[Abuhassan 89]

I don't look the dimension of crypto as a negative impact to the society which will lead to fraud and all kinds of malicious behavior but i look at it in a positive dimension that will solve the problem of the financial problem of today's banking system.

[The Game 2059]

8 minutes ago, Jaafar Fahad Hassan said:

Money fraud can be prevented definitely, Fiat fraud is the challenge we face in our everyday life, since I was born, there has been ways people fraud Fiat money, anything that has to to with exchange by bather will generate fraud,not only cryptocurrency @The Game

Well I agree with you and in crypto money fraud can be prevented and control when the government involved his opinion to legalize crypto currencies in a country with some certain restriction and well prepared strategy that will avoid fraud.

[Jaafar Fahad Hassan 114]

37 minutes ago, The Game said:

Well I agree with you and in crypto money fraud can be prevented and control when the government involved his opinion to legalize crypto currencies in a country with some certain restriction and well prepared strategy that will avoid fraud.

Fraud can't be avoided ,it can only be prevented, as I said in my previous comment,fraud can't be avoided, no matter how a country is clean there are individuals that engage in fraudulent activity, so it a normal thing mate

[jackycrypto485 1055]

Quite the contrary, if cryptocurrencies were legislated, this would end tax evasion. It is true that cryptocurrencies are decentralized, but they rely on blockchain technology, and this means that every transaction, no matter how small or large, will be recorded on the blockchain, the reason for the tax evasion now taking place is that cryptocurrencies are It is illegal and not legally regulated in all countries.

[iberahim 401]

Yes it will increase if government sport the crytop currency it will possible for government should earn tax from the crytop currency

[Smallingcane012 344]

Introduction if crypto will increase fraud from government because the pressure will not be upon government like before.

[abohasnn9 2401]

My friend, I think yes, governments will face more money laundering operations and many currency crimes in general. Cryptocurrencies are a good thing for those who want to launder their money. They must insert it into cryptocurrencies and then withdraw it in a simple manner from cryptocurrencies in a regular way. Governments are forced to impose restrictions on cryptocurrencies. Thank you.

[Abideen 659]

On 12/13/2019 at 11:21 AM, Satya31 said:

As most of the crypto is a decentralised platform so do you think invasion of crypto will help to cheat government like Tax fraud. What do you think about this. Is it possible? 

Well, I didn't understand what you are really referring to, inshort I didn't understand the content of your topic. I will advise if you will re amend the content of your post by editing it. You are always welcome mate.

[m7md 0]

The advantages that cryptocurrencies enjoy, such as centralization and anonymity, and not being controlled and monitored by anyone, makes it easy for people to use them for tax evasion Therefore, we see governments fighting their spread 

[khan22 3478]

There is no fraud in the crypto market becasue if you send the money the exchange will give you the coins through your money and you can easily buy and sell the coins through your credit card easily and buy the coins.

[Ninon 0]

In view that cryptocurrencies are not mission to any celebration and the severa transfers that occur via them can't be tracked, I suppose that governments are difficult to undertake or set a tax on dealers in cryptocurrencies, alternatively governments can locate a strategy to that inside the destiny. 

[Zeshan7736087 287]

If government introduces cryptocurrencies without any planning then it certainly will increase monetary fraud but if proper regulations are made then no one can fraud governmental organizations.

[Goyaa 2414]

With cryptocurrency, we don't have to pay taxes, because it's hard to tax cryptocurrency holders unless we convert them to fiat, the government can take from the tax exchange. If we use PayPal or perfectmoney, we may not be taxed. We can outsmart the taxes this way.

[sinseoul 0]

Could you care to explain how the government could use cryptocurrency to avoid tax? Just can't really see how it could be used with that matter. Though there some things where you could use cryptocurrency for bad things, you know like money laundering. I also think that is the reason why it is illegal on some countries.

[Lapulga04 259]

On 12/13/2019 at 11:21 AM, Satya31 said:

As most of the crypto is a decentralised platform so do you think invasion of crypto will help to cheat government like Tax fraud. What do you think about this. Is it possible? 

I agree with friend about crypto currency been a way to avoid government taxes but I don't really agree that it a crime yet, crypto currency exchange earning from investment are yet to be accepted by the most government due to this reason too, but I think it's cool

[Samotokika 1780]

On 12/13/2019 at 3:21 PM, Satya31 said:

As most of the crypto is a decentralised platform so do you think invasion of crypto will help to cheat government like Tax fraud. What do you think about this. Is it possible? 

Dude it is possible because cryptocurrencies are unpredictable and are not controllable by anyone so if people are doing some illegal activities like money laundering or some other wrong work by digital currencies so government can't control it and cannot impose tax on it.

[lilisbet18 231]

I believe that governments should update all these things, that is, the tax systems of the countries must always be updated in technology and this is the difference of the countries that will adapt and the countries that do not, that is the difference of the richer countries and poorer countries where there is less technology.
 

[betania1 283]

On 12/13/2019 at 6:21 AM, Satya31 said:

As most of the crypto is a decentralised platform so do you think invasion of crypto will help to cheat government like Tax fraud. What do you think about this. Is it possible? 

This can happen, but of course this will depend on the government that misuses it but of course there is a high possibility that this will happen, we just have to wait if there will be a solution at some point in these cases that could happen in the future.

[celeste10 251]

This is something that without any doubt can, but nevertheless it is something that is the task of all governments once this is accepted is to implement a new platform to pay taxes with cryptocurrency this is possible.

[Rozy 1918]

Frauds are everywhere, and it is expected that some people might try to manipulate their trades just to run a way from taxes, but you know what , they have every right to do so, because crypto is not a stable market with stable profit and it is decentralized one so it is illogical for governments to ask for taxes, people are risking their money and they might win once and lose ten , so why should they pay for their winning!

[Syriana 350]

Cryptocurrencies came to help people improve their economic situation and help the government in its business and growth, but there are many people who do work that distort cryptocurrencies and carry out fraud and theft, so we have to be careful of them and put an end to dealing with them or put some controls to stop them from their work

[Adam786 560]

I think yes ! Anyone can deceive the government because we cannot trace the cryptocyrrency and a lot of people are using this trick to avoid the taxes of the government . They are investing and trading by the cryptocyrrency and getting huge profit. So government should make the laws about this.

[Pereira 2303]

To avoid fraud or misuse of the cryptographic area, governments such as the United States are implementing some regulations in cryptocurrencies and this is because many people are misusing this area, for which cryptocurrency taxes are being established to improve the security of this same. But the question is if everyone will agree with this implementation, many will say no and others yes, so it is a contradiction in the market because of this.