with the tax news flying around , the crypto market was really hit hard and still crawling from recovery. if finally validated, what effects will it have on crypto markets and its traders. please share your views and thoughts.
There are countries that taxed their users, but so far here in our country, we are not, maybe the regulators have overlooked us or they think that we are a small community that they need not tax us, but with Cryptocurrency a growing community and an advancing industry here in our country, they will one day caught us and make us pay taxes, I should be prepared for this.
You can't prevent things to happened, along the way with crypto's wide acceptance,
the chance that your country will learned and understand the losses that maybe they overlooked or due to un-awareness they are not
implying taxes yet, but sooner or later once they've realized that rules will be there to chase those crypto holders.
No longer small community around the world so expect that it will happen not far from now.
But from the information that I understand about crypto, each wallet address and transaction seems to be a string of characters, it is unclear about the origin and it is relatively difficult to query the exact owner, although governments have control over the internet system but their scope is also within permissible issues, the rules of privacy and individual rights still need to be preserved. Tax requirements are an unlikely expectation when crypto is not a small field, need very intensive settings to impose taxes