Quote from: Piggymonster on Today at 04:22:48 PM

Quote from: Ultegra134 on November 06, 2021, 03:28:12 PM

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I agree on this, infact in my place, the government is now looking on how to capture the taxes that should be paid on income from cryptocurrencies. But they have yet issued guidelines on the classification of cryptos and the computation of the taxes to be imposed. I was happy as my country was an early adapter to cryptos but they also want their fair share and soon they'll be collecting it.

Where are you from, if you don't mind me asking? Similarly, here, there isn't any legal framework against cryptocurrencies, they are now planning to implement new laws but nothing has been heard about it for quite a few months. However, if I were to convert all my coins to fiat currency and then deposit to a bank, I'd have to declare them as income, since it's a decent amount of money, and get taxed at least 24% for it.

Definitely not happening.