Quote from: YUriy1991 on Today at 01:41:53 PM

Quote from: worldtraveller321 on April 24, 2024, 08:51:01 PM

Question on BTC and other cryptos

This is from being in Canada.
I was wondering if there is a way to further invest with my BTC and other cryptos without and being in legal terms. As in ways that would not be considered a taxable event.
I know crypto to fiat and doing trades now is consider taxable.
Even staking?

What other ways can I further invest with my cryptos without it being a taxable event? Thanks

I think the approach is simple because every country wants income from all fronts including the most in the lyrics now. Well. It's simple, if you don't want to deal with the name, tax, just ignore it if your exchange asks to complete the data. It's just that exchanges sometimes make deductions in usually every transaction we make whether you are trading, staking or other always triggers a tax event and that applies if someone's investment is considered to be making a profit.

This just come to my mind as well, maybe if he can afford a flexible tax policies or even a non taxable environment by migrating to regions and countries where this is not a challenge, such could be in El-Salvador or any other country like UAE in the middle belt where cryptocurrency is being allowed to perform under free zone, we could actually spend and make use of bitcoin in some of the countries or region mentioned and have no difficult time from how to use it on a daily basis and to run the economy without government regulation and taxation that could negatively affect us.