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Reasons Why Tax on Cryptocurrencies is not possible?
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[QUOTE="Josemendez, post: 72423, member: 25665"] Actually they do not need to set a value for any cryptocurrency neither does cryptocurrency need to have a fixed value . All that they can do is to give a fixed amount. For example , I read online about the US new law to collect tax on any cryptocurrency transaction above $5000. Laws like this , will still hold despite the volatile nature of cryptocurrency ,as the law is on the [B]amount[/B] and not on the price of the coin. Secondly , this is to help the Governments have something in return , as such a huge amount in the fiat world normally attract taxation , the cryptocurrency world shouldn't be an exception , otherwise everyone will run to cryptocurrency to avoid taxation on huge business transaction. [/QUOTE]
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Reasons Why Tax on Cryptocurrencies is not possible?
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