Why must cryptocurrency pay tax?

[Alcor]

If people make a profit from any activity, especially in the field of finance, the state has the right to establish a tax and require citizens to pay it. This is a general rule of all states. I do not see anything unusual in this. In order for states to legalize cryptocurrency and allow its circulation, we will be required to pay appropriate taxes.

[alltalk]

Every country has different regulations related to cryptocurrency pay tax. In my country, a small user like me never pays cryptocurrency tax. Why pay tax? I rarely get profits from doing crypto business. But if I am a big trader, I have no problem to pay crypto tax.

[LogiC]

Everyone knows how tax works. Countries with strict taxation could really affect the crypto industry but there are also some with good provisions. Yes it is good for the country if tax were imposed the only thing that is not good is the part where tax are highly abused. SEC is very strict on imposing crypto especially on the part where financial status is involved. Luckily in my country the law is very sypporting this blockchain tech.

[pelana vreo]

Many countries have different rules regarding ownership of Bitcoin and other crypto-assets.
in my country, ownership of crypto assets will be taxed according to the number of altcoins or bitcoins that are owned normally in local trade that I often do when withdrawing will be subject to tax or PPN The term in taxation in my country is 10%, that includes administrative fees for interbank withdrawals , from crypto to local currency that I receive from each withdrawal transaction.

[masterrex]

As a responsible citizen of any country even you own a decentralized cryptocurrency, it should be tax since our taxes are very useful for the services in our country that's why even the cryptocurrency is decentralized in nature for me it should be TAX as part of our responsibility.

[Confero]

I agree with paying Cryptocurrency taxes, but how can the government get to know anyone of those who hold Crypto. Because this is anonymous, it will be difficult to track the people involved in it.

[Lanirex]

Paying for Cryptocurrency tax is certainly fine, because from this Cryptocurrency Business we can benefit.  And if the government sets a Cryptocurrency tax, then we must follow these regulations, otherwise we will be referred to as against state regulations.  And it could be that the government would freeze our account if indeed the regulation is already running.

[moonuranus]

As the future money that we will use to buy stuffs or anything related to expense, tax must be implemented since it will be used to support each countries, if there is no tax, then where will be the country's expense will come? tax is essential in every country.

[Seerge]

Every government must have its own regulations, Cryptocurrency is a business that can make money and because of that, the government implements the rule that Cryptocurrency must pay taxes. And if indeed it is the duty of every Cryptocurrency player then they must pay taxes.

[damsix]

In my experience it depends on what the country has done for digital money or cryptocurrency.
If crypotcurrency in the country is open then there is a possibility of taxation and if the country prohibits outstanding crytpocurrency, then there is no need for taxpayers (although in fact cryptocurrency is in circulation).

This statement is the same as Input-Process-Output.
When there is cryptocurrency input, it must be taxpayer.
If there is no cryptocurrency input, there is no need for taxpayers.

[Munareal]

Paying tax on cryptocurrency is a good development for crypto community and crypto users because this is an indication that the crypto currencies are being accepted by the government. This will encouraged more usage by citizens of a country where crypto currencies are taxed. Governments need funds to execute projects and the tax paid are the major source of financing this project. This will act can entice countries that ban cryptourrencies to review their policies to allow its use so that they can earn tax on cryptocurrencies too.

[Octoalts]

Paying tax on cryptocurrency is a good development for crypto community and crypto users because this is an indication that the crypto currencies are being accepted by the government. This will encouraged more usage by citizens of a country where crypto currencies are taxed. Governments need funds to execute projects and the tax paid are the major source of financing this project. This will act can entice countries that ban cryptourrencies to review their policies to allow its use so that they can earn tax on cryptocurrencies too.

I agree with you, if a country has implemented a Crypto tax system in a country that means that Cryptocurrency has been accepted by that country. This means that anyone can calmly play Crypto without having to worry that Cryptocurrency will be banned in the country. And that is a natural thing, because the tax requested by the government will also be returned to the people to build the country.

[Shahinaz]

it is only natural that the USA applies the crypto tax because the usa is a superpower with a large industrial level and many crypto enthusiasts (possibly only opinions)

[masterrex]

That's the reason why the government wants to regulate the cryptocurrency industry aside from the purpose of protecting its people as investors from possible fraud and scams it was also serve for tax mapping since cryptocurrency industry are high potential source of revenue.

[Luckyperson21]

Hold or trade cryptocurrency should not be taxed. Digital money cannot be taxed because they are not physical assets. However, if the state asks for taxes, it might be intended to avoid embezzlement of money.