Post
Topic
Board Bitcoin Discussion
Merits 2 from 2 users
Topic OP
Isd this reasonable?
by
Yamifoud
on 23/02/2025, 04:07:14 UTC
⭐ Merited by Botnake (1) ,Ziskinberg (1)
In my country, the Philippines, crypto owners are urged to declare their crypto capital gains for annual tax filing. This means that we are urged to pay taxes, and I don't think this is reasonable enough since crypto was not yet considered a legal tender.
Quote

Crypto regulation in the Philippines is in a quasi-legal state as of now. It is not yet accepted completely, nor has been completely outlawed. Cryptocurrency transactions are legal in the Philippines , however, the crypto coins are not considered “legal tender”.

source: https://coinpedia.org/cryptocurrency-regulation/cryptocurrency-regulations-in-philippines/
I'm not sure if this is also happening in your country. Is anyone honest enough to declare his/her crypto assets? For me, taxes should be considered ONLY if it is officially accepted and become legal tender.