Post
Topic
Board Economics
Re: Does engaging with bitcoins put you at risk?
by
chalkboard17
on 30/07/2018, 08:57:11 UTC
Dealing with bitcoin in my country is not a risky process but turning the cryptocurrency into fiat can cause big problems in terms of taxes in the future. Because there is no legal regulation yet.
That used to happen in my country too, when bitcoin is still something strange and mysterious to most of our people and the government so there has not been any regulations for bitcoin. But when you suddenly had such huge amount of income, they would suspect you and try to get more money away from you. Ever since bitcoin became so popular last year, they started to pay more attention to bitcoin and began to realise what it could do to their bank systems. They have not given any laws or imposed any taxes on bitcoin but they keep saying that they will do so and also spread fake news about bitcoin to scare people away. I could say that it is complicated here in my place.