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[AudraMiller]

There is a lot of talk about when you regulate cryptocurrency that there has to be taxes that are implemented as well and that will be a very good way in order to try and benefit the government from the adoption of cryptocurrency and may be an advantage and a promoting factor for governments as well. According to a recent news article that I read, it seems that the US is looking to tax the cryptocurrency users, and with the vast number of cryptocurrency users and transactions that happen within this country, the taxation of this currency could bring in as much as 28 billion dollars to the government and could go a long way in bettering the infrastructure and helping to recover from the pandemic losses. What are your thoughts on such a taxation and do you think that it will help in legalizing bitcoin and other cryptocurrency in this country as well?

 

[Brain]

Definitely whenever there's any talks about tax it is always the government that will enjoy whether at the state or federal level. I just hope it wouldn't be too much

 

[Razor1911]

Definitely whenever there's any talks about tax it is always the government that will enjoy whether at the state or federal level. I just hope it wouldn't be too much

Well I don't think the government really enjoys taking the money. The amount is spent on the welfare of the people. If the government is not doing proper work, its the fault of the government only.

 

[Brain]

Well I don't think the government really enjoys taking the money. The amount is spent on the welfare of the people. If the government is not doing proper work, its the fault of the government only.

Sure,the tax received is supposed to be for everyone good but it isn't for some countries like me where the government misuse these funds for their personal funds

 

[AudraMiller]

Definitely whenever there's any talks about tax it is always the government that will enjoy whether at the state or federal level. I just hope it wouldn't be too much

In my opinion i think that some countries when they start to implement tax on crypto may do this and we may see some very high rates and this may deter peopel away from the use of cryptocurrency as a whole.

 

[Brain]

In my opinion i think that some countries when they start to implement tax on crypto may do this and we may see some very high rates and this may deter peopel away from the use of cryptocurrency as a whole.

I even think this is why some high rate or fees on crypto currency are instigated so that it will deter people from using the money

 

[AudraMiller]

I even think this is why some high rate or fees on crypto currency are instigated so that it will deter people from using the money

I don't think so. High fees that are associated with cryptocurrency is not to deter people but because of the high traffic on the network at that time. I think that the high taxes may be to deter people.

 

[Brain]

I don't think so. High fees that are associated with cryptocurrency is not to deter people but because of the high traffic on the network at that time. I think that the high taxes may be to deter people.

Okay I understand the difference now I think this will my friend love to deal with anything crypto mostly at night maybe the network is always lot more free at that time

 

[AudraMiller]

Okay I understand the difference now I think this will my friend love to deal with anything crypto mostly at night maybe the network is always lot more free at that time

Generally i think that this would be the case. However it all depends on time zones as well. For example a country like the USA has more transactions than an African country and at night for them may be during the day in America that can still result in a high transaction fee and traffic.

 

[Wisdom01]

They might not as well legalise the use but only benefit from the use through the use of taxation , since people are no longer storing their funds in the bank like that again but through crypto,the government have to source for an alternative way

 

[Dionn]

There is a lot of talk about when you regulate cryptocurrency that there has to be taxes that are implemented as well and that will be a very good way in order to try and benefit the government from the adoption of cryptocurrency and may be an advantage and a promoting factor for governments as well. According to a recent news article that I read, it seems that the US is looking to tax the cryptocurrency users, and with the vast number of cryptocurrency users and transactions that happen within this country, the taxation of this currency could bring in as much as 28 billion dollars to the government and could go a long way in bettering the infrastructure and helping to recover from the pandemic losses. What are your thoughts on such a taxation and do you think that it will help in legalizing bitcoin and other cryptocurrency in this country as well?

It will be very helpful to users if U.S tax the cryptocurrency users