Topic: I just have a quick question and this is about taxes. (Read 101 times)
at the moment, you can report on taxes as a trader, but only on income. as evidence can provide a history of the exchange
For me, your Tax should be based on the income made in Fiat and not in crypto. I know for a fact this is still a grey area and an evolving one, as long as Governement don't have a clear understanding on the crypto space it would be very difficult for them to tax it, because for now there are many grey area to hide
By the restrictive intentions of a number of governments (China, India and etc.) we can conclude that most of them perceive crypto as rather 'pain in the ass' because they crave establishing control over it but it hardly possible without restrciting the Internet itself.
Funny and true. There is no one financial market rise without weakening the other one, at least at first. Crypto is doing something that many people couldn't do in past. I don't think that banning crypto can't remain forever. If people start to use it massively like we start to see it these days than there is no going back.
By the restrictive intentions of a number of governments (China, India and etc.) we can conclude that most of them perceive crypto as rather 'pain in the ass' because they crave establishing control over it but it hardly possible without restrciting the Internet itself.
Is the government aware that this doesn’t revolve around there issued currency? Because technically you can sell at a USD loss and make a gain in Bitcoin or ETH? How are they going to adjust for that?
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