Post
Topic
Board Economics
Re: Why lot of countries do not allow to use Crpto?
by
pokeronlinestatus
on 18/07/2018, 06:47:06 UTC
state wants to get tax. the input and output of the money can not be controlled. also a serious competitor for bankers. also a good way to make money. countries are opposed to it. a money they can not control is troubling governments.
This is what i also think, some country government wants to get tax because of being regulated on their country which bitcoin cannot give them as an exchange. Also this could be a potential problem on banking system, take note that bitcoin is used as a currency so there is a possibility that people will use it more than fiat currency.
Yeah it is right that governments want tax on bitcoin transactions and as it is decentralized governments cannot collect tax on crypto. It will take time to legalize bitcoin by the whole world and then governments will be able to impose tax on bitcoin transactions and trade. On the other hand bitcoin investment and earnings reduced the burden of unemployment from the government.