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.
Since the government was not yet considered as a legal tender it is very unreasonable to the government who applied the tax for it. Similar problems happened on my country, the government did the same to crypto users/owners, it is not considered as legal tender now, maybe it is true that in my country "Crypto" or Bitcoin recognized as a legitimate asset here, but I still don't agree if the owner or user is still subject to tax while still not giving free rights to use it.
Apart from that, what I don't like about taxes is, they don't care whether the user experiences losses or not, they still apply taxes to anyone, and this is very disappointing in my opinion. So in essence, the government must give freedom to crypto users, especially Bitcoin, to be used as legal tender to be taxed, then that will be fair.