Topic: Will crypto exchanges be banned/taxed ? (Read 551 times)
There are some exchanges that they apply transaction fees, so it is pretty much better if the government also will implement taxed to the crypto exchanges than to be banned. For us to be legalize in trading and investing in the crypto currencies because it will be hard for us if all of the countries will ban the crypto currency and we can check if the exchanges is not a fraud because they have an authority to operate from the government.
I settle for crypto trades have to be compelled to be directed lawfully. they're not following applicable tenets, the bulk of them square measure swindling their customers. within the event that crypto trades disregard governs then they have to be compelled to be penalized smartly and every now and then have to be compelled to be restricted.
This is why a decentralized exchange with 0% transaction fee is a good alternative. A decentralized one ideally does not have a central governing taxable body with no taxable income (0% transaction fee) so yeah, it's kinda a loophole for current regulations.
Cryptos are texed in some states, problem is that if there is no clear classification of crypto in the law there can be a problem how to properly tax incomes from crypto investing. It can not be banned but for example banks can block payments from exchanges so then there can be a problem get money from your investment
I accept crypto trades ought to be directed legitimately. They are not following appropriate tenets, the majority of them are swindling their customers. In the event that crypto trades disregard governs then they ought to be fined vigorously and at times ought to be restricted.
Right now if an exchange wants to stay in business they need to comply to regulations.
Even if there is an exchange that is completely anonymous, would you trust your BTC with them?
Even if there is an exchange that is completely anonymous, would you trust your BTC with them?
No i will not trust it for storing my asset on that exchange.
If most of the exchange get tax from government or regulation, i think i would prefer to store in regulated exchange.
Regulation can be very helpful to prevent such crime activity.
The point is that governments always want to avoid things that will have negative economic impacts on their countries and so off late that's why there is alot of regulatory sanctions being rolled out by different governments.Sometimes the exchanges can comply with such regulations easily without compromising user details but other times it is too strict the exchange may have to close down and that is what is actually happening now and in the near future.
But then why did they wait so terribly long to do anything with regulation regarding Bitcoin? It is not like Bitcoin was released yesterday or 5 years ago, it has been out for above 9 years now which is ample time to come up with some regulation. Governments are lazy, lets not sugar coat the reality now. 
The point is that governments always want to avoid things that will have negative economic impacts on their countries and so off late that's why there is alot of regulatory sanctions being rolled out by different governments.Sometimes the exchanges can comply with such regulations easily without compromising user details but other times it is too strict the exchange may have to close down and that is what is actually happening now and in the near future.
i can think of 2 solutions to this problem:
- Use FIAT to buy GPUs, mine coins with them, then use the mined coins to trade on DEX (decentralized exchange) platforms
- Buy crypto with FIAT directly from other people, that you can meet in forums or online announcements, Localbitcoins.com and similar sites
- Use FIAT to buy GPUs, mine coins with them, then use the mined coins to trade on DEX (decentralized exchange) platforms
- Buy crypto with FIAT directly from other people, that you can meet in forums or online announcements, Localbitcoins.com and similar sites
i certainly would not choose to mine. that's far too much outlay and far too much risk in case difficulties go crazy or there's a general crash. maybe 0.1% of crypto users would ever consider that option.
i'm interested to see how p2p develops in china. they apparently have dedicated telegram groups and stuff. the escrow element is something that needs solving for good. localbitcoins is just as prone to being hammered as anything else on the open internet.
the ideal would be a fully legit tether, but inevitably that will be the most regulated and strangled of all.
the ultimate option would be more and more people choosing to forego fiat completely. at that point there's little that can be done. there must be people already who live a good chunk of their lives without ever touching fiat themselves. i hope it continues to grow.
Exchanges will be taxed and I have nothing against that. Well, I made relatively easy money and I'm ok with those regulations. If we don't have taxes that would mean that we need to hide our income and can't spend it without fear. Main fear here would be the smiling tax man on my door.
Most of the regulations about bitcoins is about making money money for the government and they do this by threatening banning it and later change their tone so that the traders will be happy and aceept regulations and they are definitely making a lot of money on the back of the crypto currencies world. 
It will be taxed for sure here in out country there will be 3 more exchanges approved by government so im expecting a low convertion of btc to fiat.
Exchanges will be taxed and I have nothing against that. Well, I made relatively easy money and I'm ok with those regulations. If we don't have taxes that would mean that we need to hide our income and can't spend it without fear. Main fear here would be the smiling tax man on my door.
some exchanges that are located in some special countries can take taxes like bittrex did , but It would be a harsh decision to ban any , because there are people's money in it and a country can't take them money unless it wants to steal them !
Even if a country wants to ban some exchange it must inform before so that people can withdrawl.
Even if a country wants to ban some exchange it must inform before so that people can withdrawl.
It is possible to be taxed but not sooner and exchanges will not be banned,It is possible to be legalized registered by government and charge tax it will be beneficial for government and economy due to generated revenue.
The users will be taxed as per Income Tax Law as per there specific countries Law, taxing exchanges is quite a far thing and a complicated one, I guess Laws needs to be modified before this can really happen. Few exchange may get banned, due to there ineligibility to comply with rules, maybe. Actually they might be suspended, banning is I believe now quite inappropriate term to use.
Yes they are going to be taxed. Actually exchanges in Korea are already being taxed and that is a good thing for crypto as it legalizes cryptos. And thats something that cryptocurrencies need very badly to grow right now.
It is possible to be taxed but not sooner and exchanges will not be banned,It is possible to be legalized registered by government and charge tax it will be beneficial for government and economy due to generated revenue.
Taxation is not good for cryptocurrencies. Now we have fear of beginner investors with taxation and there is no entry of fresh money. KYC is good, AML is good but TAX is not good for cryptocurrencies. Cryptocurrency is not commodity cryptoCURRENCY is currency. You can pay with bitcoin. Example in Belarus country all crypto transactions and related income, including from mining, will be tax-free for the next five years. Why people so easily allow their governments to adopt laws solely in the interest of taxes without the right arguments?
Easy digital currency such as COINS, what should a tax, and how to pay tax, has been a troubled problem all over the world, will also direct relationship between the governments attitude to encrypt digital currency.
Earlier this month, the Arizona authorities also began a virtual currency tax bill, which proposes to pay taxes on bitcoin, which recognizes that virtual currencies are money, not products. But not all lawmakers are in favor of paying tax on bitcoin. Steve Farley, the Arizona senator's representative, warned that if bitcoin prices fell, it would put taxpayers in a dilemma. But the authorities believe that the state should be responsible for the bitcoin transactions, and that the dollar is sufficient.
Japan, as a country that has embraced the ICO and the blockchain, will undoubtedly be the world's model.
Earlier this month, the Arizona authorities also began a virtual currency tax bill, which proposes to pay taxes on bitcoin, which recognizes that virtual currencies are money, not products. But not all lawmakers are in favor of paying tax on bitcoin. Steve Farley, the Arizona senator's representative, warned that if bitcoin prices fell, it would put taxpayers in a dilemma. But the authorities believe that the state should be responsible for the bitcoin transactions, and that the dollar is sufficient.
Japan, as a country that has embraced the ICO and the blockchain, will undoubtedly be the world's model.
It is a possibility. The government can enforce anything they wish. But hey, first let me clarify that the word ban and tax are two very different words. Ban means it is not allowed and tax is a different thing also. A thing can be legalized and be taxed. Hope you knoe the difference.
of course. the Government cant ban crypto but they cant ban the exchanges. but i think that if the government can collect tax from crypto, they wont ban it.
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