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.
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”.The Philippines government has implemented a capital gains tax of up to 15% on cryptocurrency transactions to regulate and tax the growing crypto market. The tax applies to profits made from selling or exchanging cryptocurrencies and purchases made using crypto.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.
Governments don't care about legal tenders and other things, they want to tax people. I suggest you learn about the situation in your country to understand whether it's okay to hide taxes or not. I know that in my country, despite the fact that you have to pay taxes in many cases, 99% of the population doesn't pay taxes and it's okay, no one will catch you or fine you for that. For example, tradesmen do trades jobs but don't pay taxes, everyone knows that and that's okay. Even if a policeman calls you to repair a tap in his home, he knows that you aren't paying taxes and will say nothing.
If the situation is something like this in your country, you don't have to be very honest about your crypto assets.