Crypto markets can exist without government permission

[Etranger]

The government will not be able to control crypto, they will only take taxes from transactions.  We all know crypro is semi anonymous... How can the government control it.  They only know about the transaction when they do it on the local exchange.  So permission from the government is actually not really necessary

Actually, they are able to control crypto sphere and more likely they will be doing it in the near future. Of course, this will not be done directly, but obliquely. I think mainly through banning unauthorized payments without an explained history, which is already the case in Europe, because of which people will be forced to declare income from cryptocurrencies and pay taxes on them. And in this case, anonymity can no longer be maintained.

[dekafee79]

The government will not be able to control crypto, they will only take taxes from transactions.  We all know crypro is semi anonymous... How can the government control it.  They only know about the transaction when they do it on the local exchange.  So permission from the government is actually not really necessary

Actually, they are able to control crypto sphere and more likely they will be doing it in the near future. Of course, this will not be done directly, but obliquely. I think mainly through banning unauthorized payments without an explained history, which is already the case in Europe, because of which people will be forced to declare income from cryptocurrencies and pay taxes on them. And in this case, anonymity can no longer be maintained.

Isn't it possible for the government to find out about crypto money after we make transactions on local exchanges, so that we are subject to tax. If you have to report the number of crypto assets, that's really ridiculous because we never know when the value will fall during a bearish season.

[Etranger]

Isn't it possible for the government to find out about crypto money after we make transactions on local exchanges, so that we are subject to tax. If you have to report the number of crypto assets, that's really ridiculous because we never know when the value will fall during a bearish season.

Nobody said that governments really understand the crypto sphere. They create laws due to their own understanding of how people should pay taxes. But those taxes could have nothing to do with the peculiarities of cryptocurrencies. Those regulations would not work very well, but who cares, for most state institutions it is much more important just ti make a vision that they take everything under control.

[yohananaomi]

If it is prohibited in other countries, such as what you call China, many of its citizens invest there. The Chinese government should have a policy that protects its citizens from investing in crypto by providing investment permits.

Even though they have more citizens than other countries, they know the level of risk that can occur when trading and there also implement very strict regulations regarding the use of cryptocurrency so that the residents there are very compliant with these rules.

It's true, even though the population is the second largest after India, they can apply all the rules well, so that their citizens don't violate the rules that have been made, all because they are supported by their officials who can be disciplined in implementing the rules, including crypto, which is prohibited, and the officials there are not trapped to carry out manipulation.
So it is not surprising that they are able to become a country with very fast economic growth.

[rizqillah]

If it is prohibited in other countries, such as what you call China, many of its citizens invest there. The Chinese government should have a policy that protects its citizens from investing in crypto by providing investment permits.

Even though they have more citizens than other countries, they know the level of risk that can occur when trading and there also implement very strict regulations regarding the use of cryptocurrency so that the residents there are very compliant with these rules.

It's true, even though the population is the second largest after India, they can apply all the rules well, so that their citizens don't violate the rules that have been made, all because they are supported by their officials who can be disciplined in implementing the rules, including crypto, which is prohibited, and the officials there are not trapped to carry out manipulation.
So it is not surprising that they are able to become a country with very fast economic growth.

China is always discussed in crypto, it needs government support, but to this day it still hasn't. The problem is that enforcement of the rules there is strict and the residents obey the rules, in my opinion that's not all. Because they are also looking to become bitcoin miners in other countries, rich people will do anything for their business

[lepbagong]

The government will not be able to control crypto, they will only take taxes from transactions.  We all know crypro is semi anonymous... How can the government control it.  They only know about the transaction when they do it on the local exchange.  So permission from the government is actually not really necessary

Actually, they are able to control crypto sphere and more likely they will be doing it in the near future. Of course, this will not be done directly, but obliquely. I think mainly through banning unauthorized payments without an explained history, which is already the case in Europe, because of which people will be forced to declare income from cryptocurrencies and pay taxes on them. And in this case, anonymity can no longer be maintained.

Isn't it possible for the government to find out about crypto money after we make transactions on local exchanges, so that we are subject to tax. If you have to report the number of crypto assets, that's really ridiculous because we never know when the value will fall during a bearish season.

There is always a loophole for anyone to do something that is not in accordance with government directions, so it is not impossible that they do not carry out transactions with local exchanges but with exchanges that are not connected to the government, so they do not pay taxes. Remember, the nature of crypto is that it cannot be controlled, and it is possible that if the government cannot or is capable of implementing strict regulations, someone will commit this violation. There must be a mechanism that can make them willing to pay what has been determined by the government.

[Etranger]

Isn't it possible for the government to find out about crypto money after we make transactions on local exchanges, so that we are subject to tax. If you have to report the number of crypto assets, that's really ridiculous because we never know when the value will fall during a bearish season.

There is always a loophole for anyone to do something that is not in accordance with government directions, so it is not impossible that they do not carry out transactions with local exchanges but with exchanges that are not connected to the government, so they do not pay taxes. Remember, the nature of crypto is that it cannot be controlled, and it is possible that if the government cannot or is capable of implementing strict regulations, someone will commit this violation. There must be a mechanism that can make them willing to pay what has been determined by the government.
[/quote]

This should not be a mechanism of compulsion, but reasons for a conscious choice to pay such a tax. So far, governments are not providing them. Strengthening control and attempts to limit the cryptosphere will only lead, in my opinion, to the fact that crypto people will find ways to go into the shadows. Neither the crypto industry nor the state will benefit from this. The forcing methods that most governments now use in relation to cryptocurrencies will not achieve the result they claim. This leads to the conclusion that governments, in fact, are not interested in the implementation of the cryptosphere in other areas of life, but in establishing total vertical control over it for their own benefit.

[DAMKAR]

This should not be a mechanism of compulsion, but reasons for a conscious choice to pay such a tax. So far, governments are not providing them. Strengthening control and attempts to limit the cryptosphere will only lead, in my opinion, to the fact that crypto people will find ways to go into the shadows. Neither the crypto industry nor the state will benefit from this. The forcing methods that most governments now use in relation to cryptocurrencies will not achieve the result they claim. This leads to the conclusion that governments, in fact, are not interested in the implementation of the cryptosphere in other areas of life, but in establishing total vertical control over it for their own benefit.

You are right, the government is just trying to control crypto but in my opinion it can never be done. One way the government can do this is by taking taxes from crypto transactions on local exchanges, because this can increase government income. In my opinion, at the moment maybe some countries are not interested in adopting crypto technology, but I believe that it will happen in the future when everything will become crypto, because this is the technology of the future

[IvugeoEvolutionCoin]

This should not be a mechanism of compulsion, but reasons for a conscious choice to pay such a tax. So far, governments are not providing them. Strengthening control and attempts to limit the cryptosphere will only lead, in my opinion, to the fact that crypto people will find ways to go into the shadows. Neither the crypto industry nor the state will benefit from this. The forcing methods that most governments now use in relation to cryptocurrencies will not achieve the result they claim. This leads to the conclusion that governments, in fact, are not interested in the implementation of the cryptosphere in other areas of life, but in establishing total vertical control over it for their own benefit.

You are right, the government is just trying to control crypto but in my opinion it can never be done. One way the government can do this is by taking taxes from crypto transactions on local exchanges, because this can increase government income. In my opinion, at the moment maybe some countries are not interested in adopting crypto technology, but I believe that it will happen in the future when everything will become crypto, because this is the technology of the future

If the government tries to take taxes for every transaction in cryptocurrency then it indicates that the government has succeeded in controlling the bitcoin market. But I see that in several countries, when withdrawing cryptocurrency and exchanging it for fiat currency, the government has implemented taxes in the sector using fiat currency.

[DAMKAR]

This should not be a mechanism of compulsion, but reasons for a conscious choice to pay such a tax. So far, governments are not providing them. Strengthening control and attempts to limit the cryptosphere will only lead, in my opinion, to the fact that crypto people will find ways to go into the shadows. Neither the crypto industry nor the state will benefit from this. The forcing methods that most governments now use in relation to cryptocurrencies will not achieve the result they claim. This leads to the conclusion that governments, in fact, are not interested in the implementation of the cryptosphere in other areas of life, but in establishing total vertical control over it for their own benefit.

You are right, the government is just trying to control crypto but in my opinion it can never be done. One way the government can do this is by taking taxes from crypto transactions on local exchanges, because this can increase government income. In my opinion, at the moment maybe some countries are not interested in adopting crypto technology, but I believe that it will happen in the future when everything will become crypto, because this is the technology of the future

If the government tries to take taxes for every transaction in cryptocurrency then it indicates that the government has succeeded in controlling the bitcoin market. But I see that in several countries, when withdrawing cryptocurrency and exchanging it for fiat currency, the government has implemented taxes in the sector using fiat currency.

By taking taxes from crypto transactions, it shows that the government has accepted the presence of crypto, although not completely. Because we can't use crypto as a payment method yet, but it is possible that the government will allow it in the future.

[MrSpasybo]

By taking taxes from crypto transactions, it shows that the government has accepted the presence of crypto, although not completely. Because we can't use crypto as a payment method yet, but it is possible that the government will allow it in the future.

Hmm, we have been too optimistic about the possibility of this on global scale. El Salvador may have been very successful in adopting BTC as legal tender, but the same is unlikely to apply to large economies like the US, Germany, UK, Japan... Another important point is that El Salvador does not have its local currency, meaning that crypto and BTC do not affect the ability to manage the economy through monetary policy. In the meantime, the global economy is operating on debt, meaning that central banks can print more money to intervene in the economy. Clearly, I don't think governments are ready to give up this right, I think the local currency is as important as the military.

What I dare to hope for now is that BTC and crypto can be accepted as a legal asset: to be mined, traded, accumulated, and used in payments through crypto-fiat conversion gateways. Currently, BTC is chosen as an investment asset by many large companies and investment funds, it would be better if BTC is soon included in the reserve asset portfolio of many countries.

[yohananaomi]

You are right, the government is just trying to control crypto but in my opinion it can never be done. One way the government can do this is by taking taxes from crypto transactions on local exchanges, because this can increase government income. In my opinion, at the moment maybe some countries are not interested in adopting crypto technology, but I believe that it will happen in the future when everything will become crypto, because this is the technology of the future

If the government tries to take taxes for every transaction in cryptocurrency then it indicates that the government has succeeded in controlling the bitcoin market. But I see that in several countries, when withdrawing cryptocurrency and exchanging it for fiat currency, the government has implemented taxes in the sector using fiat currency.

By taking taxes from crypto transactions, it shows that the government has accepted the presence of crypto, although not completely. Because we can't use crypto as a payment method yet, but it is possible that the government will allow it in the future.

It is not as easy as we imagine, that by paying taxes, we can be sure that the government is in line and will accept crypto as a means of payment.
When it comes to taxes, the government is very smart and knows the need, but to be able to accept it as a legal means of payment, there will definitely be pros and cons, because it involves many institutions that all feel entitled to do so.
Also, look at the readiness of the community to see whether they are able and able to accept it, it is still too early for that.