Quote from: OscarDavidson on March 29, 2021, 06:46:04 PM

Quote from: livingfree on March 29, 2021, 04:54:29 PM

They can still make money from it. They don't have to ban it and just impose a regulatory tax that every profit gained through crypto is taxable and has to be declared as income.
In some countries, they're doing this. Instead of putting a ban to crypto related income, they're simply giving their people freedom to get along with another source of income through crypto trading.

I agree with this point. I think civilized countries should give an example to all world and show everyone that Bitcoin and crypto are not dangerous. However, these assets can be regulated in the proper way so people can even pay taxes for the crypto received from mining or trading. Perhaps, Bitcoin can become a second international currency like USD.
Have you heard about Venezuela's experience? They try to relieve the country's economy with the help of their own crypto known as El Petro. There is already allowed to pay salary with El Petro and the prices in the country partially indexed to the coin.

Yes, they're open to this and if they see that there's something that won't go along with the government, they'll at least put some restriction but not a total ban for it. As for Venezuela, did it really helped the country with their Petro? what's profitable are the established cryptos.

Quote from: AakZaki on Today at 06:08:32 PM

but for my country this is still complicated to do, tracking is required on their personal crypto wallet and it is still not possible. the use of regulatory tax is only imposed on exchanges in that country, not for individuals or individuals. Some crypto regulations in developing countries allow crypto to be used only as a commodity asset no more than that.

Crypto is becoming very popular and many are already aware of it. Several agencies have also started to enter crypto, large companies and others. Other income through crypto trading provides an opportunity for them to get more profit but still with a high risk and become their own responsibility.

It can be applied for the individuals who make money from crypto. Just like the people from the US, when they've gained profit from crypto, they're filing it as their revenue along with respective taxation.