Do you really expect legal clarity for the crypto market?

[ustcoin]

Cryptocurrencies have not yet been taxed in my country and I never want them to be taxed. Governments are centralized authorities and their chemistry is not compatible with decentralized currencies. Of course, they don't have to conflict with each other, but the more they stay away from each other, the better it is for us. If one day I face more serious tax sanctions in the name of regulation, I will flee to decentralized exchanges.

I totally agree, buddy. Taxation in particular is ridiculous. (I hope not) The state creates a legal basis for collecting taxes. If there is to be taxation, it can be taxed from the stock exchanges, and no one would object to that. Otherwise, I may have lost any of the coins. Let's say I need money urgently, will the state also charge a tax for the tokens I sold at a loss? This is an illogical situation.

[legend45]

When talking about taxes, sometimes it feels ridiculous, because the government doesn't know that we are selling our coins at a loss.  But we are still taxed.  But however, as good citizens, we must obey these rules.
And I hope crypto is legalized in our country, even though the consequences will be that we will be taxed.

[hasyurt]

If you're going to be taxed, it should be when profits are made. For example, if I bought any X coin and sold it at a profit, it might be a reasonable tax, but if I made a loss from
The best part about this is that tax can be collected from exchanges that allow us to buy and sell. Stock exchanges already collect commission from their customers when buying and selling. The tax issue can be easily resolved by increasing this commission to a reasonable extent. Apart from these, the tax would be annoying.

[DAMKAR]

If you're going to be taxed, it should be when profits are made. For example, if I bought any X coin and sold it at a profit, it might be a reasonable tax, but if I made a loss from
The best part about this is that tax can be collected from exchanges that allow us to buy and sell. Stock exchanges already collect commission from their customers when buying and selling. The tax issue can be easily resolved by increasing this commission to a reasonable extent. Apart from these, the tax would be annoying.

It should be like that, we are taxed when we make a profit, but does the government know whether our transaction made a profit or sold at a loss?  Because the tax officer doesn't check the hash of our transactions.  The government only imposes taxes when we make transactions, whether we make a profit or a loss.  Funny...

[Gyrgen]

The more unregulated this industry is, the more opportunities the state has for manipulation. For small hamsters like us, this is good, they don’t notice us, but it’s easier to collect taxes from big whales because you can always find a reason.In my country there are no clear laws describing this type of activity; it’s all in the so-called gray zone.

There will always be impacts that occur in the absence of regulations that regulate it, but for crypto it is not a problem whether it is regulated or not because no one can prevent transactions from occurring that are outside the existing rules. Usually a country that still hasn't implemented clear rules because it could be a failure. the ability to manage it properly or are there other indications and only you can possibly answer because of direct experience.

For crypts, certainly not, but for those who use it, they can, especially if the cryptan behaves very unreasonably.This is the whole problem. And as far as the state is concerned, most likely this is the case; not a single normal state will regulate something if it does not understand how to do it correctly.

Of course, if the rules are violated, there will definitely be sanctions for those who do it, if indeed the rules have been made by the government.But it is not good if there is a prohibition; still doing things that are not allowed is certainly an unwise action.But sometimes rules are made that are not in accordance with the current situation, so there are sometimes conflicts between those who want to use them and those who regulate them.

Exactly so. The opinion of the state does not always coincide with the opinions of people, for various reasons. And we begin to invent a way to circumvent this ban with minimal consequences for ourselves. And the problem is that the state has certain structures that can prevent us from doing this.

[doc]

Exactly so. The opinion of the state does not always coincide with the opinions of people, for various reasons. And we begin to invent a way to circumvent this ban with minimal consequences for ourselves. And the problem is that the state has certain structures that can prevent us from doing this.

It's not that the country doesn't know about crypto because they have experts there.The state thinks about the pros and cons of a policy. As you say, The opinion of the state does not always coincide with the opinions of people, for various reasons.This is true, because the Government has reasons to legalize it or not, they also think about the negative impacts. And it's not the same as our thinking.

[IvugeoEvolutionCoin]

It's not that the country doesn't know about crypto because they have experts there.The state thinks about the pros and cons of a policy. As you say, The opinion of the state does not always coincide with the opinions of people, for various reasons.This is true, because the Government has reasons to legalize it or not, they also think about the negative impacts. And it's not the same as our thinking.

Well, you are absolutely right. It is normal for a country to have people who are economic experts and understand the existence of cryptocurrencies such as Bitcoin, but as you said, not everything runs smoothly because it will impact society, and of course the country doesn't want that risk. bad happens to its people when it provides policies for the use of cryptocurrency on a wide scale.

[0t3p0t]

It's not that the country doesn't know about crypto because they have experts there.The state thinks about the pros and cons of a policy. As you say, The opinion of the state does not always coincide with the opinions of people, for various reasons.This is true, because the Government has reasons to legalize it or not, they also think about the negative impacts. And it's not the same as our thinking.

Yeah good point. They are thinking broadly and if in a single mistake they have done or decide will cause the entire country to suffer that is why they are too careful in making decisions. And it will take much time for them to analyse and exchange of ideas if it really is worth it to implement or approve just like what had happened to Bitcoin ETF. Control is also what the governments is trying to gain here.

[DrBeer]

Unfortunately, the Ukrainian government did not choose an adequate path and did not accept preferential taxation of transactions with cryptocurrencies...

“The Verkhovna Rada of Ukraine will not consider the proposal to introduce preferential taxation of personal income on transactions with digital assets,” the head of the parliamentary committee on finance, tax and customs policy, Daniil Getmantsev, said in an interview with Interfax-Ukraine.

“We don’t want to, frankly, stimulate crypto activity, which is inherently speculative and does not create added value and jobs,” he explained.
According to him, the National Commission for Securities and Stock Market of Ukraine (NCSM) was unable to develop a high-quality bill on virtual assets, so the committee is discussing an alternative document from Servant of the People deputy Alexander Sova.

Getmantsev noted that two key issues remained unresolved: taxation and market regulator."

[retreat]

Of course crypto traders/investors expect that they can get legal certainty from their country. With legal certainty, it will give them the opportunity to be able to trade/invest more safely and securely because there is legal certainty. So it will also enable them to avoid various problems related to crypto trading and investment.

[de_prof]

Of course crypto traders/investors expect that they can get legal certainty from their country. With legal certainty, it will give them the opportunity to be able to trade/invest more safely and securely because there is legal certainty. So it will also enable them to avoid various problems related to crypto trading and investment.

The main goal of legality is the protection of citizens' rights.  So crypto investors will feel safe and comfortable.  In fact, in several countries the government has allowed the bitcoin, but only for investment, not as a payment method.
Legality is important, but it needs the process for learned by the government

[Aanuoluwatofunmi]

We must not forget that in cryptocurrency, not all the crypto are decentralized, some are centralized, the developers can decide on the legal agreement on any of their crypto projects, but when we are making considerations on a centralized one like bitcoin, we may have nothing to relate with this than what it whitepaper gives as protocols, doing crypto should be at ones risk, just as you can make decision on what trade to engage in and which one not to do.

[DrBeer]

When talking about taxes, sometimes it feels ridiculous, because the government doesn't know that we are selling our coins at a loss.  But we are still taxed.  But however, as good citizens, we must obey these rules.
And I hope crypto is legalized in our country, even though the consequences will be that we will be taxed.

As I already wrote, in my country, Ukraine, a legislative framework is currently being prepared to give official status to cryptocurrencies. In short, cryptocurrencies will not replace national currency and will not be an official means of payment. But cryptocurrencies will be considered assets similar to stocks (there will be 3 gradations). And of course, the issue of taxation is one of the key ones. The scheme we offer is as follows:
The owner of the cryptocurrency, after completing the sale, will (once a year) fill out a tax return, indicating PROFIT or LOSS. If there is a profit, then the profit (but not the amount of money received) will be taxed. There are still questions regarding tax percentage and control mechanisms

[pacar_tiri]

The main goal of legality is the protection of citizens' rights.  So crypto investors will feel safe and comfortable.  In fact, in several countries the government has allowed the bitcoin, but only for investment, not as a payment method.
Legality is important, but it needs the process for learned by the government

In my opinion, the legality that exists in cryptocurrency is only used to prevent misuse of the circulation of cryptocurrency so that it does not cause harm to certain groups. As you have mentioned, the government still limits the use of cryptocurrency because, basically, cryptocurrency has a very high risk.

[KryptoBull]

Unfortunately, the Ukrainian government did not choose an adequate path and did not accept preferential taxation of transactions with cryptocurrencies...

“The Verkhovna Rada of Ukraine will not consider the proposal to introduce preferential taxation of personal income on transactions with digital assets,” the head of the parliamentary committee on finance, tax and customs policy, Daniil Getmantsev, said in an interview with Interfax-Ukraine.

“We don’t want to, frankly, stimulate crypto activity, which is inherently speculative and does not create added value and jobs,” he explained.
According to him, the National Commission for Securities and Stock Market of Ukraine (NCSM) was unable to develop a high-quality bill on virtual assets, so the committee is discussing an alternative document from Servant of the People deputy Alexander Sova.

Getmantsev noted that two key issues remained unresolved: taxation and market regulator."

From what I understand, crypto is recognized in Ukraine, but taxes may not be as low as investors expect.

I don't like this government decision. Although there is no high tax revenue from crypto investments, the government can attract foreign investment by becoming a crypto-friendly country like what El Salvador has achieved. Even just by supporting BTC miners, the government will also collect costs for renting premises, labor and buying energy from farms.

After resolving the legal issue, crypto tax will be the next issue we have to fight!