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Showing 4 of 4 results by Chirayu_20
- Clear up the tax situation
Blockchains dont work without a token, and tokens need to be traded in and out of fiat (government backed currencies like the US dollar). This means there will always be a chance to profit (in fiat terms), so HMRC needs to clarify its stance.
In the US, the 2018 tax law clarified when you should pay capital gains on crypto. One big change: crypto-to-crypto transactions are now taxable events.
- Regulate exchanges
Almost all foreign exchange flows through banks or currency houses: what you do with it afterwards is your choice. It should be no different in the crypto-verse.
Unless you are a professional trader the sort of person whod self-declare as option four on a list like this all your transactions should run through an exchange that is regulated.
- Create a framework for ICOs
Youve done your homework and read our guide: Should You Launch An ICO? But chances are you still cant discern if an ICO is legitimate or not. If youve even taken one look at a whitepaper, chances are youve given up on the first paragraph.
People are investing in ICOs just because of the hype and have no idea where their money is going this wont end well.
Blockchains dont work without a token, and tokens need to be traded in and out of fiat (government backed currencies like the US dollar). This means there will always be a chance to profit (in fiat terms), so HMRC needs to clarify its stance.
In the US, the 2018 tax law clarified when you should pay capital gains on crypto. One big change: crypto-to-crypto transactions are now taxable events.
- Regulate exchanges
Almost all foreign exchange flows through banks or currency houses: what you do with it afterwards is your choice. It should be no different in the crypto-verse.
Unless you are a professional trader the sort of person whod self-declare as option four on a list like this all your transactions should run through an exchange that is regulated.
- Create a framework for ICOs
Youve done your homework and read our guide: Should You Launch An ICO? But chances are you still cant discern if an ICO is legitimate or not. If youve even taken one look at a whitepaper, chances are youve given up on the first paragraph.
People are investing in ICOs just because of the hype and have no idea where their money is going this wont end well.
Bitcoin was developed as the worldwide payment system, so it can be used anywhere. It has tried to stand as the currency of the world. So the question arises here, as we already have paper currency why would we need a digital currency like bitcoin?
Bitcoin is not regulated by any government so while performing transactions, people do not need to have middleman like a bank for performing transactions, so it saves money and no need to pay taxes for sending money to other countries. People will have their own control over their money and blockchain technology is safest and unhackable.
Bitcoin is only available up to 21 Million bitcoins, then after that, it will not get produced anymore. The production will cease by 2140 as of now the supply is just 16,931,163. It has also gained its value due to more people using it. The popularity gains also increase its value because of limited resources.
Bitcoin is not regulated by any government so while performing transactions, people do not need to have middleman like a bank for performing transactions, so it saves money and no need to pay taxes for sending money to other countries. People will have their own control over their money and blockchain technology is safest and unhackable.
Bitcoin is only available up to 21 Million bitcoins, then after that, it will not get produced anymore. The production will cease by 2140 as of now the supply is just 16,931,163. It has also gained its value due to more people using it. The popularity gains also increase its value because of limited resources.
