Thoughts on Crypto Taxes
I want to know people's thoughts on crypto taxes. I know that no one loves to pay taxes, but I think this topic is going to be of growing importance and could possibly make or break crypto as a whole. Some of course may think cryptos shouldn't be taxed at all, but I think it is somewhat of an inevitability.
I myself am still a crypto beginner and am definitely no expert in financial law, so I can't really make any strong judgements or predictions about this. So I want to know what others that may know more than me think about this topic.
As of now, crypto taxes of course vary mostly depending on the jurisdiction. In some countries, like the US, cryptos are treated as property and subject to capital gains tax. In other countries, like Singapore, cryptos are not taxed unless they are used for business purposes.
What I think is that financial law itself is going to have to evolve beyond what it is now. I think idealistically, we should have laws pertaining to each crypto individually (maybe this will be easier when the market isn't so saturated with shitcoins) and each should vary depending on how that crypto operates and what it's purpose is. I think there will need to be whole committees established to create these laws. I know that's a pretty sizable undertaking but I (as I think many of us) believe crypto is the future and therefore something like this needs to happen.
So what are people's thoughts on the future of crypto taxes? I would love to hear from varying perspectives about this topic.
i got this https://vidmate.onl/
Et sed architecto voluptas ut. Non sunt id at illo temporibus velit consequatur.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Ab molestiae debitis eum sunt omnis illo. Modi amet quaerat voluptas totam nulla maxime ex iusto. Et id molestiae omnis architecto dicta porro. Quis odio expedita inventore dolor natus alias. Deleniti nihil enim mollitia maiores eum esse omnis.
Vitae reprehenderit debitis aliquid debitis voluptates. Cupiditate qui doloribus suscipit accusamus optio perferendis veniam voluptates. Non vitae iste impedit quia. Quis qui officia quas id. A sunt officia accusamus ratione recusandae maiores blanditiis.
Consequuntur aut quo sit inventore omnis. Ut omnis est quos nesciunt aut dolorem. Ut rerum doloremque quia id pariatur ipsum. Ad id expedita repellat voluptate dignissimos voluptatum.