Is there a possibility of a Country to ban access to Crypto games? - page 4.

lixer

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Quote from: dimonstration on August 24, 2021, 06:07:18 PM

Quote from: zanezane on August 24, 2021, 12:50:04 PM

Are you talking about Axie Infinity? I think that a decentralized platform can't be taxed or banned by the government and it's going to be difficult for them to ban the game because people will find a way to bypass the ban and go on like it's not banned.

Our government now is planning to tax crypto investors and players, I think they can track it like how they track youtube vloggers to pay their taxes. They can’t tax the small earners but those who might ise the bank or if they have contact with the company they can probably. Im not sure yet how they will do it since its crypto and there many ways to cashout it bit soon they will sure yo figure it out especially now they see the interest of people in it

Even if they catch people who are playing these games or investing in crypto but how would they know what's the amount of money you are making playing these games or making these investments? Because, crypto is untraceable if used wisely and there's no way unless you are tortured that you would reveal the real income.

One can always pay a small amount on taxes and get away by making much more money. For example, if the government knows you are investing in crypto and making money, you can pay taxes on 10% of the profits and keep the 90% secret. There's no way they would ever come to know about it. I am not suggesting anyone of doing so but this is a possibility.

Kittygalore

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Yes there's a possibility but unless they're willing to be militaristic and surveillance state, they won't be able to stop the people from playing the game because there's a lot of ways to bypass bans in your country, just a little bit of technology know how to save you and your precious investment from being useless.

molsewid

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Quote from: ipanks on August 25, 2021, 07:08:06 AM

The only way for you to avoid the tracking from your government is not to cash out the money to your bank account in a big amount because that can make the bank alarm sound and report to the government. The government can track players by their connection on the internet or filtering their connection so the government knows who the player is. But I do not think that will stop the players from playing the NFT game because they will use other ways to play the games.

Reading the thread I come to think that maybe the possibility of a certain country to ban crypto related especially NFT games I think is very much possible. I mean the government wanted to take taxes from the player in a certain platform that they don't have any control so maybe the only thing that they can do is to ban the said NFT game in their country. However, if this going to happen it would be a sad news for every players that earned a profit out of this NFT games.

oHnK

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Quote from: Kakmakr on August 25, 2021, 04:19:08 AM

In my country tax authorities audit your returns and do lifestyle audits and if you cannot explain your income... then you in deep trouble. Angry

Not only in ur country, Tax officers in my country not only audit our income even our newly owned assets they ask to be taxed and we have to give our cash to them or all permits and legalities for our assets are hard to get. Just imagine you have to pay taxes on assets in the future that you don't have. Especially when it comes to income and BTC.

gwdf1

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I think that it is quite possible for the government to ban crypto games as it can ban web-sites, for example, Binance got banned in my country, so I can’t use it. Also authouritives can track players as when you interact with centralised exchanges you get through verification using your documents. Or if you use other ways to get crypto, you use your card, it means that it is possible to track your bank account. Crypto is not as anonymous as some people consider.

jostorres

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Quote from: kenskie on August 24, 2021, 12:29:34 PM

Right now, Government of my country is in a process of trying to track players/account holders of a one crypto game to ask for tax because of fast and good earning rate, and I think it's not possible. So in my conclusion if they can't tracked players, is there a possibility of a country to ban this NFT game? I want to know everyone's opinion.

I think you might be talking about games like axie infinity. I haven't played the game so I guess I cannot exactly tell you what are the potential ways the government can track you. But most of these games are near impossible to be tracked because the transactions are happening on the blockchain and there's no data stored anywhere.

The title of the thread made me think that you are asking about gambling rather than gambling.

Technically, a country can ban all such games and then anyone found to be playing them is considered to breach the laws but those things will take years so not sure if you should be too worried about anything.

sirminesalot

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Quote from: kenskie on August 24, 2021, 12:29:34 PM

Right now, Government of my country is in a process of trying to track players/account holders of a one crypto game to ask for tax because of fast and good earning rate, and I think it's not possible. So in my conclusion if they can't tracked players, is there a possibility of a country to ban this NFT game? I want to know everyone's opinion.

It's just possible when the government thinks their citizens are spending or earning a lot of money and there are no impact or taxes that they could take from it, i think they will ban it for a healthier country economy.
But i don't think that could stop the prople on the country do it again in the future, because there are a lot IP bypass or VPN to play the game as if they play from another country, and VPN are cheap or even free (but the free one has some risk our data to be stealed).
So for me anything that in the internet, could not bannable by a country ban to prevent the people do it.

Taskford

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Quote from: kenskie on August 24, 2021, 12:29:34 PM

Right now, Government of my country is in a process of trying to track players/account holders of a one crypto game to ask for tax because of fast and good earning rate, and I think it's not possible. So in my conclusion if they can't tracked players, is there a possibility of a country to ban this NFT game? I want to know everyone's opinion.

How does the government do it? knowing crypto has no govern bodies so maybe they just finding a needle in a middle of the see for doing that maybe they will get a hard time to implement this since for sure no NFT gamers will declare there earnings as they didn't provide there details anywhere while playing their income generating games. If your afraid for the upcoming implementation better not to fill up any form since if you do that for sure you will be liquidated and force to pay taxes to that greedy agency.

ipanks

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The only way for you to avoid the tracking from your government is not to cash out the money to your bank account in a big amount because that can make the bank alarm sound and report to the government. The government can track players by their connection on the internet or filtering their connection so the government knows who the player is. But I do not think that will stop the players from playing the NFT game because they will use other ways to play the games.

fortunecrypto

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Quote from: zanezane on August 24, 2021, 12:50:04 PM

Are you talking about Axie Infinity? I think that a decentralized platform can't be taxed or banned by the government and it's going to be difficult for them to ban the game because people will find a way to bypass the ban and go on like it's not banned.

Yes, it is Axie and he is talking about the Philippine players because this is the big news in the Philippines because so many media are covering people who made a lot of money and still making money, and the government because of lack of funds are looking at online influencers and Axie players, banning the Axie site is a bad idea because people have invested a lot of money here and some players are willing to help the country paying taxes, not all Axie players are on the taxable threshold.

Kakmakr

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Quote from: kenskie on August 24, 2021, 12:29:34 PM

Right now, Government of my country is in a process of trying to track players/account holders of a one crypto game to ask for tax because of fast and good earning rate, and I think it's not possible. So in my conclusion if they can't tracked players, is there a possibility of a country to ban this NFT game? I want to know everyone's opinion.

Local law enforcement can subpoena your ISP to give them access to their "logs" on their server to determine what sites was visited by the users. So they do not have to contact the game provider that are most probably in another country.

Also, if you transfer money from your local exchange to buy "credits" or "tokens" ... they can subpoena your local Exchange to get those logs. (Most income goes through the local exchanges, so they know about that)

In my country tax authorities audit your returns and do lifestyle audits and if you cannot explain your income... then you in deep trouble. Angry

isaac_clarke22

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Quote from: cabron on August 24, 2021, 06:06:59 PM

~.

Well they're milking it anyway in other means already, such as for those people using custodial wallets, plus they would need to comply to KYC requirements before they have the full features that their wallet offers. It is not just happening to Axie Infinity.

That game, by the way, gets pretty hyped up in here and people are finding all those opportunities to apply for scholarships.

stompix

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Quote from: kenskie on August 24, 2021, 12:29:34 PM

Right now, Government of my country is in a process of trying to track players/account holders of a one crypto game to ask for tax because of fast and good earning rate, and I think it's not possible.

Why do people only focus on the earnings in crypto and always forget that the money you earn, be it $ or BTC or god knows what token when you're going to take those profits and use them in real life you will be easily discovered if the sum is a bit over the average earnings? You will have at one point to convert your coins to fiat, you will have to use a card, a bank account, and atm, you will buy stuff that can be tracked, if you go an buy a car and you're without a job how long do you think it will go to take before the IRS equivalent is on your case?

If we start from the hypothesis of a government being bent on tracking you then you can expect the worse, just pay your income tax and enjoy some sleep at night, tax evasion once caught without good lawyers will not be worth it.

Quote from: Wexnident on August 24, 2021, 10:55:35 PM

The government can't exactly ban, or heck, touch the company themselves since there's no reason to. Even if they forced a reason, at most, they would ban access to the site, but can't really touch the company themselves.

Depends a lot on what government we're talking about...
A 40+ employees company in Vietnam is hardly something intouchable.

Quote from: ?? on ??

Plus there's no law backing them up to tax the income from those games, remember that US has done this to bitcoin and they've failed already.

When did this thing you're talking about happen? Tongue

raidarksword

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Nothing to worry about it hence NFT games are part of crypto currency market and blockchain technology, government nor country cannot ban that because it is a decentralized platform that no one can touch it. If you are referring to Axie Infinity, definitely BIR or SEC can't tax people who were playing or breeders directly, they have to conduct first a crypto regulations before imposing such scoundrel imposition.

xSkylarx

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Quote from: Frengki_cisco on August 24, 2021, 11:55:35 PM

Quote from: kenskie on August 24, 2021, 12:29:34 PM

is there a possibility of a country to ban this NFT game? I want to know everyone's opinion.

Countries-can do that, block access to certain sites, for example gaming sites, porn sites, etc., they have no trouble doing that.
Exception, they cannot prohibit users from playing crypto games online, if for taxation reasons, what i know about sites that pay taxes for non-player_country-games that don't pay taxes are likely to be closed, and vice versa.

Agree! But it's difficult because they don't have any justifications for blocking it, and people are profiting from it, so why are they going to ban it? Taxing it is the most likely they would do because it involves income. Here in our country, crypto is becoming more well-known, and Axie is particularly well-known; as a result, the government has stepped in and announced that players will be taxed.

vv181

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Why would you think it is not possible? Governments have all the things about the surveillance tools, I don't think there are any options they couldn't track any of it. Even if we mentioning the decentralized nature of cryptocurrencies space, they can enforce any regulation or law that they like to prohibit people to not get taxed.

Here is the thing, Game/ E-sports are a multi-billion market, and the crowd are now seeing some innovation about game embedded with NFT, in short, E-sport industries are matured enough, and combined with cryptocurrencies who recently gaining a lot of traction, it will make people bat an eye into it. Governments surely won't miss a thing to get their citizen get taxed.

Darker45

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There is a possibility and, yes, any country can indeed ban cryptocurrency-based games. As for the former, I can't imagine a fair reason why a certain NFT game is to be banned simply because the people are earning and the government fails to collect taxes from them. That's too shallow a reason for a ban. As for the latter, there's always a way to go around it. So, all in all, I guess you shouldn't worry that much, especially because it seems you are referring to a country not as strict as North Korea or China.

Frengki_cisco

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Quote from: kenskie on August 24, 2021, 12:29:34 PM

is there a possibility of a country to ban this NFT game? I want to know everyone's opinion.

Countries can do that, block access to certain sites, for example gaming sites, porn sites, etc, they have no trouble doing that.
Exception, they cannot prohibit users from playing crypto games online, if for taxation reasons, what i know about sites that pay taxes for non player country games that don't pay taxes are likely to be closed, and vice versa.

Wexnident

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I don't take loans, ask for sig if I ever do.

Too vague ngl. There's a similar situation in my country (PH) where the Government plans to Tax the NFT game Axie Infinity, but close to no news about it being "banned" or whatnot. I'd consider it from my case, my country just to give an answer. It's rather easy to avoid it tbh. The government can't exactly ban, or heck, touch the company themselves since there's no reason to. Even if they forced a reason, at most, they would ban access to the site, but can't really touch the company themselves. Also let's be real, who here doesn't know how to bypass bans like that.

Honestly, it's a useless endeavor. if they ever do so, wasted resources for them and them only, since their ban basically hit nobody. There's also no way they can track the info of players since the info is handled by the game company, and the game company themselves don't really ask for KYC, so no way to track their irl info. They also don't need the permission of a country to run a game, since if it was like that, then every other company should also do so right?

just_Alice

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You’re giving too few details. What country, what’s the overall status of cryptocurrencies there, who’s a distributor of these games?

Naturally, I think, the company should’ve come to certain terms with your government and either require KYC or make this game unavailable in your region, if taxes in this case is an obligation dictated by the laws of your country.

I suggest you just pay the taxes, as if you’re caught, tax evasion can be punished pretty seriously in most countries.

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