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.
At the end of the day every country has different rules regarding taxes on crypto. There are countries that impose taxes every time we make profit
from crypto, other country do not impose taxes at all. Depending on which country we live in, in my country the government has not yet taxed
income earned from cryptocurrency. Likewise in your country, maybe the crypto community is still considered small. So the government hasn't
imposed taxes yet, but I agree with you, someday in the end if the crypto community is getting bigger surely the government will impose taxes.