In a tax settlement case raised by the tax authority of Israel against Noam Copel, founder of blockchain startup DAV, the court ruled bitcoin and cryptocurrency to be considered as an assets and taxable with capital gains tax.
Would you consider it a good more or a bad one for the future of bitcoin and cryptocurrencies?
It is bad for people in Israel as it is considered as an asset, every country has their own interpretation on how they view the virtual currency and its market, from where i am located there is no legal frame work and yet we are liable to pay tax as capital gains in order to get rid of the legal issues at a later stage.Would you consider it a good more or a bad one for the future of bitcoin and cryptocurrencies?
in other words yet another government that wants its share of the money that people might have earned from the cryptocurrency market because of the bitcoin price rise that has happened in the past.
Government survives by looting people who makes money, so it is not that surprising. 