cryptocurrencies Taxes and regulations in cryptocurrencies?

[Cleaner 2549]

3 hours ago, cryptovlek said:

I agree taxation is in the regulations and having to allow new currencies will require legal frame for them to work. It could be that taxation will be required though, only when making purchaces or sending profit to a bank but only for big amounts and not just for a few thousand dollars. The amounts of illegal money laundered by banks are billions and these should be the focus of governments, not the small profits from small traders.

Introduce tax rules in the crypto world so that many people will not be able to use crypto currency illegally.  However, cryptocurrencies are not yet legal tender in all countries, so crypto users do not have to pay taxes.  Did you know that someone pays taxes for cryptocurrencies? @cryptovlek

[Guru2050 8284]

The legal terms of some countries are part of the factors hindering the rapid growth of Crypto currencies. Imposing taxes on Crypto currencies may change the meaning of digital decentralization nature of crypto currency becoming central currencies

[cryptovlek 2597]

On 1/25/2021 at 6:49 PM, Cleaner said:

Did you know that someone pays taxes for cryptocurrencies? @cryptovlek

The Americans are paying and have to declare almost everything. But I don't know if we will pay and I don't know if for example, we withdraw $10,000 in one year, if we have to declare this as some kind of income. It depends on each nation, probably, but this is still not very clear to me. If I withdraw for example $5000 will this be too much and will there be questions asked from tax authority? The amount is an example, I have no idea what the bank and the tax authority will feel it is too high.

Edited January 26, 2021 by cryptovlek

[Cleaner 2549]

17 hours ago, cryptovlek said:

The Americans are paying and have to declare almost everything. But I don't know if we will pay and I don't know if for example, we withdraw $10,000 in one year, if we have to declare this as some kind of income. It depends on each nation, probably, but this is still not very clear to me. If I withdraw for example $5000 will this be too much and will there be questions asked from tax authority? The amount is an example, I have no idea what the bank and the tax authority will feel it is too high.

Americans pay taxes on cryptocurrencies.  However, there are some countries in the world that do not pay any tax for cryptocurrency.  For example, Germany, Malta, Singapore, Malaysia, Belgium, Netherlands.  Crypto currencies are legal tender in these countries but they do not pay any taxes

[Sykkuno 2887]

We can't have regulations without taxes this is the truth and it helps Bitcoin to have regulations, as adoption grows and legal entities like pension funds can have exposure in cryptocurrencies, as this market is being watched by many as a hi tech financial industry that can have a great future and perhaps become the new system of money worldwide.

[koynayak 1923]

I think we'll start to see all kind of regulations in crypto world. Taxes won't be surprise because governments knew there's a lot of money in crypto and if they can't banned they'll take taxes, however i don't know how can they do that. Maybe i won't withdraw my earnings just for not paying tax, but in the end we'll have to pay taxes.

[Khan 1414]

3 hours ago, Marry marry said:

They can not withdraw taxes from crypto currency and encrytion. And also regulate in order to tax.and some user says that government  are trying to get taxes.but some user says that around the world place restrictions on cryptocurrencies so not get taxes.

If the crypto will be regulated by the government then the tax should be applied because the government don't have any other way to earn from the crypto, so they will put some Tax on users like India did.

[joemcgwa 3227]

On 1/11/2021 at 5:05 PM, Obliv0n said:

The situation of regulations and taxes on cryptocurrencies has been a common theme in recent years, where countries such as South Korea, China or Japan have responded in a neutral, positive or negative way, but cryptocurrencies took a back seat during 2020 thanks to the crisis produced by the covid.

 

However, due to the recent bull market, where Bitcoin and other cryptocurrencies have doubled in value in less than a month, the issue of taxes came to light again.

 

This is where companies such as TaxBit come to the fore, TaxBit aims to partially or completely automate the payment of taxes generated from operations in the crypto market.

 

Firms such as Paypal, coinbase and Winklevoss capital have shown they supported TaxBit, investing unknown amounts, suggesting that in the future a regulation for Bitcoin could arrive.

1)What do you think about it?
2)Regulations and Taxes Good for Cryptocurrencies?
I am intrigued with what may happen in the future.

Because the governments they are only depending on citizens taxes, so that's its good for them to regulate crypto and integrate it with taxes from the crypto companies.

[huesca123 946]

I say - SCREW - the tax man. They steal already too much money from the citizens off the world. We pay taxes & then the politicians steal our money or give it away to another country. Where then it will be stolen. I say, if the tax man can find my cryptos, he can tax them. Will I declare them on my tax returns ?¿?¿ No way !!!!!!

[Obliv0n 333]

On 1/27/2021 at 12:59 PM, huesca123 said:

y - SCREW - the tax man. They steal already too much money from the citizens off the world. We pay taxes & then the politicians steal our money or give it away to another country. Where then it will be stolen. I say, if the tax man can

@huesca123 Unfortunately this reality may be possible, thanks to the signs of money laundering in cryptocurrencies and other digital assets, in addition to the tax declaration in the case of cryptocurrencies would be automatic, exchanges would be obliged to mark the transactions and therefore inform the competent organizations.

[kryptonick 2659]

I haven't given a lot of attention to the taxation, this is for the big guys that make millions so I am skipping any news about companies tracking taxes and how much it should be registered with the tax authorities. For the simple investors it makes little sense to worry, but if the money grows to high amounts then I will start thinking about this. What is important is the regulated environment that attracts more investors of higher levels of wealth.

[pablomarwan 3082]

On 1/11/2021 at 3:05 PM, Obliv0n said:

1)What do you think about it?

There is no escaping this, they are trying to win as much as possible where the cryptocurrencies possess them as well, and they are setting limits for it. This war continues even if you see that there are some companies and other surface areas, but there is something behind all this.

[Success06 537]

Many countries do not accept bitcoin or other cryptocurrencies. 

As a result, the tax in crypto is not allowed and is visible. Bitcoin is accepted in some countries for payment and other expenses. As a result, it is clear that crypto will become more mainstream, and that people will invest in it.

[Mella 3680]

Some think that regulations will help Bitcoin. They did until now, I read from many of the big investors saying they wanted a legal way to invest in Bitcoin and the last regulations helped them in this. It is now possible even for Tesla to invest. I do not know a lot about taxation as this is different on where I live and other countries. In every country it is different. I think this tool Coinbase uses is only for the americans.

[chris smith 950]

The interests by the goverments for the crypto currencirs are really good for us but i do not like the taxes of the working in this field because we liked this work because it have not any taxes.

[piuri01 446]

Here in my country, they are taxing people who work with cryptocurrencies, this does not seem positive to me because people will stop working with currencies, and will dedicate themselves to something else and thus the country's trade will not work.

[kion 381]

I use to make this statement for many times, I believe that if any country wants to impose tax on there citizens for using cryptocurrecy, then definitely they should first allowed then to participate in the cryptocurrecy freely, because I believe that what they would earn will be much bigger than what they would earn.

[Dadouasaad123 902]

I think it is unfortunate that the chances of these taxes are on the users of cryptocurrencies, they can impose these taxes that they have their cryptocurrency, through which they can impose taxes, or through a broker that converts their currencies into real money, or through cryptocurrency stores, all of which are bad. , It is a disservice to the goal for which the cryptocurrency was created.

[teebasas 3018]

The problem of cryptocurrency legislation and taxes is not new; it has only recently resurfaced. And I'm not surprised at all. Any profit-making venture, whether regulated by the government or not, must pay a percentage of the tax due to the regional tax authority. Some examples come to mind, such as the Belgian government.