Post
Topic
Board Bitcoin Discussion
Re: Interview with business owner who accept Bitcoin as payment method
by
Zaguru12
on 06/05/2024, 21:34:45 UTC
This question arose for me too. Will we demand that @SatoPrincess continue the interview? Smiley

I would also like to know from the owner of this store how the tax authorities (or other government agencies) react to the fact that he accepts payment in USDT and Bitcoin?

I think OP will definitely update us on this thread about more.

Seriously about the tax I will say the business owner isn’t paying that on for either bitcoin or usdt. My reason been that he would definitely have to hide from the authorities that he accepts bitcoin as a payment option. The government is currently placing heavy restrictions on bitcoin and cryptocurrency at large at the moment in as much as I would love more people to accept it into their businesses I think it is way too risky for now. So for tax I am pretty sure he isn’t pay for that? Because if he does, he might currently be facing the law for using it as a payment option.


It also excites me whenever i see any establishment or business that accepts bitcoin as a means for making payment, this is all they want and have realized that its something being important for them in other to wave the challenges experienced with the use of fiat, this clearly shows that i such country, bitcoin is allowed to be used by everyone for their daily transactions anf they have a fair regulation on that.

In the past the government had a relaxed policy on it, so the interview must have been conducted prior to this month. At the current moment the government is going in heavy with those involved into bitcoin and cryptocurrency.