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❓ASK Is there a concern for high taxation on cryptocurrency especially Bitcoin ?

Josemendez

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With the PayPal announcement of the possibility of buying Bitcoin using PayPal and considering that PayPal has up to 350million users worldwide . Will this mean an increase increase in taxation for users especially those in US where there is capital gain tax laws ?
Ofcourse the country will want to maximize their tax as millions of PayPal users will join cryptocurrency because of this new feature.what do you think about this ?
 

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With the PayPal announcement of the possibility of buying Bitcoin using PayPal and considering that PayPal has up to 350million users worldwide . Will this mean an increase increase in taxation for users especially those in US where there is capital gain tax laws ?
Ofcourse the country will want to maximize their tax as millions of PayPal users will join cryptocurrency because of this new feature.what do you think about this ?
You have actually asked a question that I haven't even considered since the news broke out. I feel there may be possible increment but it wouldn't be unreasonable.
 

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You have actually asked a question that I haven't even considered since the news broke out. I feel there may be possible increment but it wouldn't be unreasonable.
Yeah . The thought just came to my mind after considering the remarkable high transaction fee associated with PayPal and bearing in mind that any cryptocurrency transaction requires transaction fee
 
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