Topic: Will crypto exchanges be banned/taxed ? - page 3. (Read 551 times)
This is going to be the next we can expect from the government but don't know exactly how long they are going to take for this legal activity. Once crypto exchanges are legalized then almost cryptocurrency is legalized.
When a new income niche appears in the country, law enforcement officers begin to insomnia. This time their eyes fell on the crypto-currency miners. Tax avoidance. Any improvement in the welfare of a citizen, according to the authorities, should be reflected in tax returns.
This can happen in the future. The government may impose taxes and seals on the crypto trading floors, where transaction fees will increase significantly. They can force the investors to voluntarily accept the transaction fee + tax. With investors it is too difficult for them to impose and manage individual taxes.
In my country we are still awaiting about the framework if it is going to be accepted. Government has still not clearly clarified things and soon things will be clear and yes we do have a tax on the overall volume. If it exceeds then their is certain rules and form needs to be filled and additional tax is being charged too.
All governments are still in confuse and discussing how to collect tax from crypto traders. i think within this year they will come to one conclusion. So this is the best time for us to make money. after what all conditions they will put we don't know but one thing is sure it will become tough for us.
This can happen in the future. The government may impose taxes and seals on the crypto trading floors, where transaction fees will increase significantly. They can force the investors to voluntarily accept the transaction fee + tax. With investors it is too difficult for them to impose and manage individual taxes.
In my country we are still awaiting about the framework if it is going to be accepted. Government has still not clearly clarified things and soon things will be clear and yes we do have a tax on the overall volume. If it exceeds then their is certain rules and form needs to be filled and additional tax is being charged too.
All governments are still in confuse and discussing how to collect tax from crypto traders. i think within this year they will come to one conclusion. So this is the best time for us to make money. after what all conditions they will put we don't know but one thing is sure it will become tough for us.
Well like they say, nobody escapes tax (and death); not even in the crypto world which is suppose to be free and decentralized. 
China is going to introduce official wallet and thus control the industry. It’s their style: fisrt ban and then create their own
This can happen in the future. The government may impose taxes and seals on the crypto trading floors, where transaction fees will increase significantly. They can force the investors to voluntarily accept the transaction fee + tax. With investors it is too difficult for them to impose and manage individual taxes.
In my country we are still awaiting about the framework if it is going to be accepted. Government has still not clearly clarified things and soon things will be clear and yes we do have a tax on the overall volume. If it exceeds then their is certain rules and form needs to be filled and additional tax is being charged too.
All governments are still in confuse and discussing how to collect tax from crypto traders. i think within this year they will come to one conclusion. So this is the best time for us to make money. after what all conditions they will put we don't know but one thing is sure it will become tough for us.
The govs don't want common people to make money or escape from their poverty, so they are trying to hinder the crypto ecosystem in general.
For example we hear about crypto exchanges to be banned in some countries, or be heavily taxed so that the govs take significant earnings without doing nothing.
"Regulation" after all is just an extorsion: if you , Bitstamp (for example) , don't give me a good part of your earnings, you can't operate.
And the gov is not going to give any service in return, they just take their slice of the pie for nothing.
And at the end of the day it is not Bitstamp the one who is losing money due to "regulation".
We are.
Because Bitstamp and all regulated exchanges will be raising their fees due to the taxes and we are the ones who must pay the gov to keep the exchange alive.
What can we do to avoid this issue?
The solution that is gaining popularity are decentralized exchanges like Waves or Streamity ,
which are good for crypto-only trading.
But what about FIAT deposits?
How do "decentralized FIAT deposits" work , if they exist?
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
Well i know it's more "comfortable" to just do a bank transfer to an exchange's account , but this will have a cost for you: the gov will know what you are doing with that money, how many coins you bought , etc., so they may tax you because they think you are making profit.
While if you buy GPUs they cannot assume you are mining. You say you are just playing video games.
So your earnings are anonymous.
They don't even know you bought GPUs if you buy them at local shops with cash.
Being anonymous is worth the struggle even if it takes a bit of "discomfort" , as you are going to avoid a lot of nuasances.
For example we hear about crypto exchanges to be banned in some countries, or be heavily taxed so that the govs take significant earnings without doing nothing.
"Regulation" after all is just an extorsion: if you , Bitstamp (for example) , don't give me a good part of your earnings, you can't operate.
And the gov is not going to give any service in return, they just take their slice of the pie for nothing.
And at the end of the day it is not Bitstamp the one who is losing money due to "regulation".
We are.
Because Bitstamp and all regulated exchanges will be raising their fees due to the taxes and we are the ones who must pay the gov to keep the exchange alive.
What can we do to avoid this issue?
The solution that is gaining popularity are decentralized exchanges like Waves or Streamity ,
which are good for crypto-only trading.
But what about FIAT deposits?
How do "decentralized FIAT deposits" work , if they exist?
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
Well i know it's more "comfortable" to just do a bank transfer to an exchange's account , but this will have a cost for you: the gov will know what you are doing with that money, how many coins you bought , etc., so they may tax you because they think you are making profit.
While if you buy GPUs they cannot assume you are mining. You say you are just playing video games.
So your earnings are anonymous.
They don't even know you bought GPUs if you buy them at local shops with cash.
Being anonymous is worth the struggle even if it takes a bit of "discomfort" , as you are going to avoid a lot of nuasances.
Crypto exchange banned yes and taxes soon. I believe government will take action about crypto in all aspect because there's a lot of money running every second and to protect their instrument financial. If taxes happen it will give impact into fees and become big problem for us. About your strategy, I can't say nothing because never do that because I only focus to make money not for other issue.
This can happen in the future. The government may impose taxes and seals on the crypto trading floors, where transaction fees will increase significantly. They can force the investors to voluntarily accept the transaction fee + tax. With investors it is too difficult for them to impose and manage individual taxes.
In my country we are still awaiting about the framework if it is going to be accepted. Government has still not clearly clarified things and soon things will be clear and yes we do have a tax on the overall volume. If it exceeds then their is certain rules and form needs to be filled and additional tax is being charged too.
That is what it used to be but not anymore.
Exchanges wants more from us so that they could keep their business ongoing.
That is the hell of the problem. They are the ones being targetted and the government tasks now is easier.
With all the KYC's and everything they know who we are as of now.
Evading it wont easy. You can mine but you cannot sell. How many decentralized exchange are left. If there is, they will limit your withdrawal. Since bitcoin went up in value it became a real big problem.
Well, if that is scary for anyone they can decide not to make use of the exchanges in any of their transactions and go the P2P way. It is not like everyone is going to be coerced into paying tax, but as long as you are passing through the proper channel when it comes to exchanges, then you are obliged to pay your tax. As long as fiat is still needed one way or the other, it is not really something we should bother ourselves about as taxing is inevitable.Exchanges wants more from us so that they could keep their business ongoing.
That is the hell of the problem. They are the ones being targetted and the government tasks now is easier.
With all the KYC's and everything they know who we are as of now.
Evading it wont easy. You can mine but you cannot sell. How many decentralized exchange are left. If there is, they will limit your withdrawal. Since bitcoin went up in value it became a real big problem.
.
That is what it used to be but not anymore.
Exchanges wants more from us so that they could keep their business ongoing.
That is the hell of the problem. They are the ones being targetted and the government tasks now is easier.
With all the KYC's and everything they know who we are as of now.
Evading it wont easy. You can mine but you cannot sell. How many decentralized exchange are left. If there is, they will limit your withdrawal. Since bitcoin went up in value it became a real big problem.
Well, if that is scary for anyone they can decide not to make use of the exchanges in any of their transactions and go the P2P way. It is not like everyone is going to be coerced into paying tax, but as long as you are passing through the proper channel when it comes to exchanges, then you are obliged to pay your tax. As long as fiat is still needed one way or the other, it is not really something we should bother ourselves about as taxing is inevitable.Exchanges wants more from us so that they could keep their business ongoing.
That is the hell of the problem. They are the ones being targetted and the government tasks now is easier.
With all the KYC's and everything they know who we are as of now.
Evading it wont easy. You can mine but you cannot sell. How many decentralized exchange are left. If there is, they will limit your withdrawal. Since bitcoin went up in value it became a real big problem.
. Yes i agree with you. the main reason why people use bitcoin to be their invesment or payment method is to hide their identity, hide their balance from public (to be anonymouse) and get almost free fees. but with govs to intervene the ceypto world with taking taxes. crypto world become uncomfortable and exchanger become more like bnk which is what we avoid.
But we and exchanges have no choice and we were forced to follow our government policies. I feel that better to pay the taxes to governments than getting banned crypto trading. I think going forward all exchanges will pay taxes to governments.
Yes exchanges are getting more uncomfortable. Some bank accounts where they operate have been frozen pending tax filing etc and gov wants to know who and how much they are making. Without exchanges it's also very difficult for people to participate in cyptos.
Maybe a small part of crypto that the government holds will may apply tax or burn that coins but i think that having tax in coins or crypto will be just stupid because there's already fees and fees is already like tax to crypto and every big investors or owners of crypto needs to make one decision with everyone in one room.
That is what it used to be but not anymore.
Exchanges wants more from us so that they could keep their business ongoing.
That is the hell of the problem. They are the ones being targetted and the government tasks now is easier.
With all the KYC's and everything they know who we are as of now.
Evading it wont easy. You can mine but you cannot sell. How many decentralized exchange are left. If there is, they will limit your withdrawal. Since bitcoin went up in value it became a real big problem.
Well, if that is scary for anyone they can decide not to make use of the exchanges in any of their transactions and go the P2P way. It is not like everyone is going to be coerced into paying tax, but as long as you are passing through the proper channel when it comes to exchanges, then you are obliged to pay your tax. As long as fiat is still needed one way or the other, it is not really something we should bother ourselves about as taxing is inevitable. Exchanges wants more from us so that they could keep their business ongoing.
That is the hell of the problem. They are the ones being targetted and the government tasks now is easier.
With all the KYC's and everything they know who we are as of now.
Evading it wont easy. You can mine but you cannot sell. How many decentralized exchange are left. If there is, they will limit your withdrawal. Since bitcoin went up in value it became a real big problem.
A lot of country's now wanna regulate crypto because its a new money which they need control and earn taxes from it , when crypto was little industry nobody need that but now when its big and giant everybody wanna eat something from crypto currency 
The govs don't want common people to make money or escape from their poverty, so they are trying to hinder the crypto ecosystem in general.
Not like that, the governments are not getting any income from this bitcoin transaction that is why they are putting lot many restrictions on btc users.But what about FIAT deposits?
How do "decentralized FIAT deposits" work , if they exist?
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
Well i know it's more "comfortable" to just do a bank transfer to an exchange's account , but this will have a cost for you: the gov will know what you are doing with that money, how many coins you bought , etc., so they may tax you because they think you are making profit.
While if you buy GPUs they cannot assume you are mining. You say you are just playing video games.
So your earnings are anonymous.
They don't even know you bought GPUs if you buy them at local shops with cash.
Being anonymous is worth the struggle even if it takes a bit of "discomfort" , as you are going to avoid a lot of nuasances.
The govs don't want common people to make money or escape from their poverty, so they are trying to hinder the crypto ecosystem in general.
For example we hear about crypto exchanges to be banned in some countries, or be heavily taxed so that the govs take significant earnings without doing nothing.
"Regulation" after all is just an extorsion: if you , Bitstamp (for example) , don't give me a good part of your earnings, you can't operate.
And the gov is not going to give any service in return, they just take their slice of the pie for nothing.
And at the end of the day it is not Bitstamp the one who is losing money due to "regulation".
We are.
Because Bitstamp and all regulated exchanges will be raising their fees due to the taxes and we are the ones who must pay the gov to keep the exchange alive.
What can we do to avoid this issue?
The solution that is gaining popularity are decentralized exchanges like Waves or Streamity ,
which are good for crypto-only trading.
But what about FIAT deposits?
How do "decentralized FIAT deposits" work , if they exist?
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
Well i know it's more "comfortable" to just do a bank transfer to an exchange's account , but this will have a cost for you: the gov will know what you are doing with that money, how many coins you bought , etc., so they may tax you because they think you are making profit.
While if you buy GPUs they cannot assume you are mining. You say you are just playing video games.
So your earnings are anonymous.
They don't even know you bought GPUs if you buy them at local shops with cash.
Being anonymous is worth the struggle even if it takes a bit of "discomfort" , as you are going to avoid a lot of nuasances.
Crypto exchanges will not be banned and that’s for sure. They will surely be taxed on the other hand. Exchanges might close under pressure from government, but they wont be banned from operating. But most importantly all crypto exchanges will get regulated in the near future that will give government all transparency and help them stop any illegitimate activities taking place of track down any terrorist funding that is happening. Moreover people will no longer be able to hide their income in form of cryptos and will have to pay the taxes one way or the another. Though there will remain anonymous exchanges, but sooner or later people will convert their holding to fiat money. For example we hear about crypto exchanges to be banned in some countries, or be heavily taxed so that the govs take significant earnings without doing nothing.
"Regulation" after all is just an extorsion: if you , Bitstamp (for example) , don't give me a good part of your earnings, you can't operate.
And the gov is not going to give any service in return, they just take their slice of the pie for nothing.
And at the end of the day it is not Bitstamp the one who is losing money due to "regulation".
We are.
Because Bitstamp and all regulated exchanges will be raising their fees due to the taxes and we are the ones who must pay the gov to keep the exchange alive.
What can we do to avoid this issue?
The solution that is gaining popularity are decentralized exchanges like Waves or Streamity ,
which are good for crypto-only trading.
But what about FIAT deposits?
How do "decentralized FIAT deposits" work , if they exist?
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
Well i know it's more "comfortable" to just do a bank transfer to an exchange's account , but this will have a cost for you: the gov will know what you are doing with that money, how many coins you bought , etc., so they may tax you because they think you are making profit.
While if you buy GPUs they cannot assume you are mining. You say you are just playing video games.
So your earnings are anonymous.
They don't even know you bought GPUs if you buy them at local shops with cash.
Being anonymous is worth the struggle even if it takes a bit of "discomfort" , as you are going to avoid a lot of nuasances.
That is what it used to be but not anymore.
Exchanges wants more from us so that they could keep their business ongoing.
That is the hell of the problem. They are the ones being targetted and the government tasks now is easier.
With all the KYC's and everything they know who we are as of now.
Evading it wont easy. You can mine but you cannot sell. How many decentralized exchange are left. If there is, they will limit your withdrawal. Since bitcoin went up in value it became a real big problem.
Exchanges wants more from us so that they could keep their business ongoing.
That is the hell of the problem. They are the ones being targetted and the government tasks now is easier.
With all the KYC's and everything they know who we are as of now.
Evading it wont easy. You can mine but you cannot sell. How many decentralized exchange are left. If there is, they will limit your withdrawal. Since bitcoin went up in value it became a real big problem.
This can happen in the future. The government may impose taxes and seals on the crypto trading floors, where transaction fees will increase significantly. They can force the investors to voluntarily accept the transaction fee + tax. With investors it is too difficult for them to impose and manage individual taxes.
Your concerns are right but crypto trading will not be banned as there tons of money has been invested. It will be regulated and taxed for sure and we will have to pay the tax. As of now we need the exchange or platform which will provide easy to use one stop solution suitable for individual or businesses regardless their level of experience by respecting tax rules and avoiding any case of money laundering.
Jump to: