Post
Topic
Board Altcoin Discussion
Re: Crypto and Taxes?
by
Ailmand
on 04/01/2018, 13:14:56 UTC
Hi,
Does anyone have an understanding of how taxes work with cryptocurrency?

I read about capital gains tax, but what if the BTC i have was donated to me at first?

For now, there is no country yet that has imposed any taxes on bitcoin or any activities related to it. However, there are a lot of talks with regards to it because , I think, many countries have already foreseen the big effect that bitcoin would have in the market, and any country, for sure, would want to strike it big when that happens. I have read many write-ups regarding countries aiming to regulate the use of bitcoins or impose taxes on it for government profit. I think this is an inevitable step for some countries to gain control over it, hopefully, it won't be too strict that people would be discouraged to keep on using it.