Do you really expect legal clarity for the crypto market?

[TopT3ns]

Almost everyone who has been involved with crypto really hopes that there will be clear regulations from the government so as to protect users from any legal uncertainty that may occur in the future.
I think almost all governments everywhere already know about crypto; indeed, sometimes there are still doubts about being able to control it, even though clear regulations will prevent people from cheating because it is legal.
But you are right, friend, there are still very high taxes that plague every regulation that is implemented, even though it is not easy to make a profit from crypto.[/size]

Many hope that the government can provide clear regulations regarding the use of cryptocurrency as a legal transaction tool, but it should be noted that cryptocurrency price movements have very high risks because the price is unstable, making it difficult for the government to provide clear regulations because I believe the government also thinks about the condition of its people when prices collapse and hit all its citizens and make many of its people depressed, which will only be detrimental to the country. So, because of this anxiety, there are several countries that have not provided clear regulations regarding the use of cryptocurrency in their countries.

[Captain Corporate]

Probably not in every single nation, but it does look like there is a possibility that we could end up with something that would be a little bit more locally dependable. I mean you can't have it all the same in every single nation, you will see it change from place to place and that would be the thing that will make the change. I am pretty sure that people will end up with some sort of return eventually, so it should be a little bit greater to handle. All in all, I would say some nations will make it as regulated and legal as it could get, and some will totally ban it, we will not get the same result in every country.

[legend45]

Many hope that the government can provide clear regulations regarding the use of cryptocurrency as a legal transaction tool, but it should be noted that cryptocurrency price movements have very high risks because the price is unstable, making it difficult for the government to provide clear regulations because I believe the government also thinks about the condition of its people when prices collapse and hit all its citizens and make many of its people depressed, which will only be detrimental to the country. So, because of this anxiety, there are several countries that have not provided clear regulations regarding the use of

Bitcoin will be legalized?  That will require legislation to regulate it.  it would take a long time if that happened in my country.  But I think it would be better if Bitcoin were legalized because currently many people are investing in Bitcoin.
As bitcoin lover, we always expect bitcoin is legal.

[KryptoBull]

Probably not in every single nation, but it does look like there is a possibility that we could end up with something that would be a little bit more locally dependable. I mean you can't have it all the same in every single nation, you will see it change from place to place and that would be the thing that will make the change. I am pretty sure that people will end up with some sort of return eventually, so it should be a little bit greater to handle. All in all, I would say some nations will make it as regulated and legal as it could get, and some will totally ban it, we will not get the same result in every country.

I understand this, because crypto has the potential to threaten the power of fiat, the attitudes of governments towards crypto are very different.
If the government has enough knowledge and capacity: they will manage and collect taxes.
If the government is worried: they will ban it.
If the government does not know what to do: they wait for responses from other countries.

But in the crypto wave, I believe governments will gradually realize that crypto - like the Internet - cannot be denied or banned 

[Primo1760]

My country's cryptocurrency has not yet been legalized by legal tender. But I am very satisfied from my country because I am using cryptocurrency very well. I want my country to move forward the way it is moving forward with cryptocurrency. If there was a lot of trouble using cryptocurrency from my country, then maybe I would say that cryptocurrency should be legalized in my country, since there is no problem with cryptocurrency in my country, we are using cryptocurrency very easily. In that case, why would I want to legalize cryptocurrency and pay additional government taxes. In countries where cryptocurrency is legal, the government deducts 30% to 40% tax. I have received comments from users in those countries that they are having problems with the validity of their crypto currencies because they are being taxed at 35% to 40%. But in countries where cryptocurrency is legal and taxed at 35% to 40%, I think the tax is too high.

[Carbitcoin]

For example, in my home in Ukraine, all crypto enthusiasts are waiting for a law on the legalization of cryptocurrency, and here we can say a lot of good and bad, but today we need certainty.  As a result of its operation, companies will be able to register their own cryptocurrency business in our country, and Ukrainian specialists will be able to implement projects in Ukrainian jurisdiction.  This law will also help eliminate certain risks related to the work of international blockchain companies, as well as attract investments from other countries.

[KryptoBull]

My country's cryptocurrency has not yet been legalized by legal tender. But I am very satisfied from my country because I am using cryptocurrency very well. I want my country to move forward the way it is moving forward with cryptocurrency. If there was a lot of trouble using cryptocurrency from my country, then maybe I would say that cryptocurrency should be legalized in my country, since there is no problem with cryptocurrency in my country, we are using cryptocurrency very easily. In that case, why would I want to legalize cryptocurrency and pay additional government taxes. In countries where cryptocurrency is legal, the government deducts 30% to 40% tax. I have received comments from users in those countries that they are having problems with the validity of their crypto currencies because they are being taxed at 35% to 40%. But in countries where cryptocurrency is legal and taxed at 35% to 40%, I think the tax is too high.

I think everyone wants the crypto in their account to have the best legal status, and we are all willing to pay tax on crypto income, as long as it is not too high.

30-40% is a scary tax rate, I really don't understand how the government can be so greedy. It seems they do not understand the hardship of investors in this crypto market.

For example, in my home in Ukraine, all crypto enthusiasts are waiting for a law on the legalization of cryptocurrency, and here we can say a lot of good and bad, but today we need certainty.  As a result of its operation, companies will be able to register their own cryptocurrency business in our country, and Ukrainian specialists will be able to implement projects in Ukrainian jurisdiction.  This law will also help eliminate certain risks related to the work of international blockchain companies, as well as attract investments from other countries.

I believe that Ukraine will have a suitable legal framework for crypto because Ukraine has received positive values from crypto through crypto donations from all over the world to restore infrastructure. Crypto adoption will likely help Ukraine attract investment and tourists in the future, similar to what El Salvador achieved last year 

[de_prof]

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I believe that Ukraine will have a suitable legal framework for crypto because Ukraine has received positive values from crypto through crypto donations from all over the world to restore infrastructure. Crypto adoption will likely help Ukraine attract investment and tourists in the future, similar to what El Salvador achieved last year

Yeah, I think Ukraine will legalize crypto at their country because there is donation for Ukraine.
But In my opinion, crypto will legal or not, it's not big matter.
Because we still can invest on crypto in anywhere  especially in my country.

[yohananaomi]

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I believe that Ukraine will have a suitable legal framework for crypto because Ukraine has received positive values from crypto through crypto donations from all over the world to restore infrastructure. Crypto adoption will likely help Ukraine attract investment and tourists in the future, similar to what El Salvador achieved last year

Yeah, I think Ukraine will legalize crypto at their country because there is donation for Ukraine.
But In my opinion, crypto will legal or not, it's not big matter.
Because we still can invest on crypto in anywhere  especially in my country.

It seems like Ukraine has legalized crypto since 2022, and there are no problems with crypto in the country, so it's not surprising they are willing to accept help with crypto.Hopefully the crypto aid distributed will be used for the benefit of people who need donations to meet their needs for clothing and food, as well as building better infrastructure.With immediate recovery, it will be able to attract investors willing to invest their funds in building many factories for the country's progress, and the tourism sector can run well.

[DrBeer]

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I believe that Ukraine will have a suitable legal framework for crypto because Ukraine has received positive values from crypto through crypto donations from all over the world to restore infrastructure. Crypto adoption will likely help Ukraine attract investment and tourists in the future, similar to what El Salvador achieved last year

Yeah, I think Ukraine will legalize crypto at their country because there is donation for Ukraine.
But In my opinion, crypto will legal or not, it's not big matter.
Because we still can invest on crypto in anywhere  especially in my country.

It seems like Ukraine has legalized crypto since 2022, and there are no problems with crypto in the country, so it's not surprising they are willing to accept help with crypto.Hopefully the crypto aid distributed will be used for the benefit of people who need donations to meet their needs for clothing and food, as well as building better infrastructure.With immediate recovery, it will be able to attract investors willing to invest their funds in building many factories for the country's progress, and the tourism sector can run well.

As a resident of Ukraine I will tell you how the situation really looks like
1. In 2022 and in 2023 cryptocurrency in Ukraine was in "suspended status". there is no law that would describe 2 important points:
- what are cryptocurrencies
- what is the taxation model

2. At the end of 2023, there were drafts of a new law that would regulate these two key issues. To summarize very briefly:
- Cryptocurrencies are not a monetary unit, but an intangible asset
- transactions on the sale of this asset is taxed to a differentiated scheme:
-- for individuals - from 5% of the transaction amount, i.e. for example if you sold cryptocurrencies for 10000 hryvnias, you will pay 500 hryvnias of tax. And this rate will be valid for the first 5 years, then it will increase.
-- for legal entities - 18%.

Now the final version of the law is still being discussed and worked out. I am conceptually satisfied with it

[Baofeng]

My country's cryptocurrency has not yet been legalized by legal tender. But I am very satisfied from my country because I am using cryptocurrency very well. I want my country to move forward the way it is moving forward with cryptocurrency. If there was a lot of trouble using cryptocurrency from my country, then maybe I would say that cryptocurrency should be legalized in my country, since there is no problem with cryptocurrency in my country, we are using cryptocurrency very easily. In that case, why would I want to legalize cryptocurrency and pay additional government taxes. In countries where cryptocurrency is legal, the government deducts 30% to 40% tax. I have received comments from users in those countries that they are having problems with the validity of their crypto currencies because they are being taxed at 35% to 40%. But in countries where cryptocurrency is legal and taxed at 35% to 40%, I think the tax is too high.

I think that is good to hear and majority of the countries right now are for me are going to support crypto in any way or form. Of course, support means that they will have to tax it out just like a regular assets.

Here that tax is normal, 30% derived from your income and so that could be the norm.

For me it's better than government making it hard for crypto enthusiast with their anti-crypto form, including jail time if they know that you are into crypto, just saying.

[Geey]

Crypto is known to everyone and is even global, some countries allow crypto and some don't because they have certain reasons... in my country crypto is not yet fully allowed because they have certain reasons, but now my government has started to allow crypto in trade because the government also wants to join blockchain technology, therefore maybe in the future it will be allowed, but I hope that if the government allows crypto, the tax will not exceed 15% because if it exceeds the nominal amount it will be very difficult for investors.

[yohananaomi]

As a resident of Ukraine I will tell you how the situation really looks like
1. In 2022 and in 2023 cryptocurrency in Ukraine was in "suspended status". there is no law that would describe 2 important points:
- what are cryptocurrencies
- what is the taxation model


2. At the end of 2023, there were drafts of a new law that would regulate these two key issues. To summarize very briefly:
- Cryptocurrencies are not a monetary unit, but an intangible asset
- transactions on the sale of this asset is taxed to a differentiated scheme:
-- for individuals - from 5% of the transaction amount, i.e. for example if you sold cryptocurrencies for 10000 hryvnias, you will pay 500 hryvnias of tax. And this rate will be valid for the first 5 years, then it will increase.
-- for legal entities - 18%.


Now the final version of the law is still being discussed and worked out. I am conceptually satisfied with it

Thank you for the complete information, because I myself read the news circulating and did not know that the truth of the news was very doubtful.Hopefully, the explanation from DrBeer will be important information because DrBeer who have experienced and know about it are detailed because he is a resident of Ukraine.

[DrBeer]

....
Thank you for the complete information, because I myself read the news circulating and did not know that the truth of the news was very doubtful.Hopefully, the explanation from DrBeer will be important information because DrBeer who have experienced and know about it are detailed because he is a resident of Ukraine.

Yes, I will definitely share information regarding legislative changes, as this is a very interesting topic for all forum participants.
Regarding Ukraine and cryptocurrencies, I would like to add a couple more interesting facts:
- Ukraine ranked 3rd in the Global Crypto Adoption Index in 2022 Ukraine is becoming increasingly convenient for cryptocurrency business, as shown by the Global Crypto Adoption Index ranking.
- Ukraine entered the top 5 in terms of adoption of crypto assets in 2023.

I have very little hope. that the legislative framework will make Ukraine an attractive market for crypto-projects and the development of crypto-economy

[vegasus]

• Has your country enacted a crypto tax and regulatory framework?

I think I will highlight this question. At first, I really didn't think that my government will take the tax on crypto because we really knew how they illegalized crypto at that time. but, after legalizing crypto as commodity asset since 2019, I really had a feeling that someday, there will be any tax to be paid. And it is true. In 2022, they made the regulation about crypto transaction should be taxed. this is crazy, and we cannot ignore the tax as long as we are using our local exchanges. And all local exchanges must be registered in one of governmental institution  in my country.

And the most annoying thing is that the tax is applied every time we are doing transaction of selling or buying in the exchange. So, we cannot avoid this. hemm.