Cryptocurrency and Taxation

[Josemendez]

Naturally , taxation has been a means government generate money from businesses and organisations . The world of cryptocurrency then being a source of business to some individuals and companies ,has been a subject of debate. Companies now escape taxation on investment because they engage in cryptocurrency investment.

Governments on their own are reluctant to adopt cryptocurrency because ,they will not be able to benefit from it ,if they are not supported to collect tax.

The question is ,if taxation is to be implemented , what will be the fate if small investors ? , can they be able to cope with like the top companies that invested in it.

 

[Donkiz]

One of the major reason that made lots of people and organizations to embrace cryptocurrency investments and payments is because it's not regulated by any government agency, once that freedom of investment and making payments without the prying eyes and scrutiny from government agencies are taken away from cryptocurrency many people will back out of it.

Truth is that it will be very hard for any government to accept cryptocurrency payments as one of the official payment means or even invest in cryptocurrencies because they will not gain from people's transactions or investments, and whatever government doesn't gain from, they don't endorse such.

 

[sincerem]

It will be hard for government of our country to implement taxation when it comes to cryptocurrency. Cos Cryptocurrency operates on unanimous way, you can't track those investors that is investing heavily. But you will track those Cryptocurrency exchanger wallets that is acting as financial institutions to those investors that invests whole lots funds to save on those wallets. Government will demand due licensing fees from those crypto exchange platforms, either monthly, or yearly. Any one can go, that is the way I think the government can recoup taxation fees from such kind of organization.