Quote from: tbterryboy on March 22, 2022, 09:00:31 AM

Quote from: pawanjain on March 21, 2022, 04:41:34 PM

bitcoin has proved time over time that it is more than just a cryptocurrency. It is something that people trust at time of emergencies.
It is more like a safe haven for many people and as time goes by more number of people will start believing bitcoin for what it is and what value it brings to them.
US has also started the preparation of regulating cryptocurrencies. Many other countries have also realized the fact that its impossible to completely ban cryptocurrencies so why not regulate it instead.
Good times are only getting started.

The fact that you could even tax it makes it even more illogical to ban it as well. Like if you could just tax it, get money from the people who use crypto, that means we are talking about making a good income. I have been paying crypto taxes for 4 years in my nation right now, and I have to say if they banned it, they would have lost out on all of that income from me, and that is just me, there are over 1.5 million people investing or at least in one point owned crypto.

It means that even if they all paid just one thousand dollars overall (some paid A LOT more, some paid less) that makes it 1.5 billion dollars yearly, and in the last 4 years (since we started legalizing and taxing crypto) that would have made it 6 billion dollars. Seriously, why ban it when you can make that kind of money?

Ofcourse they can. Generating income from taxing income from cryptocurrencies is a great way for governments to grab a decent amount from the citizens of their country.
But at the same time if they are taxing cryptocurrencies then they will also have to come out with laws and policies to regulate cryptocurrencies to protect funds of their people.
This is where many governments are struggling in my opinion. There are no clear laws in many countries for cryptocurrencies including my country India.