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RE: Bitcoin Trading Hits $3.5 Billion In India as HNIs Get Hit With Tax Notices!

in #bitcoin7 years ago

This is a real potential game changer for taxing - it could get over the top. Capital gains must be tiered like they do for fiat. the thing is converting fiat to cryptocurrency has a fiat fee; then you exchange to another cryptocurreny - then another trader and blockchain fee, then converting back to fiat is another fee. Primary fiat taxing should only occur once (or at worst twice) - the rest stays crypto.

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I agree. There should be no taxation for trading crypto to crypto at all. Only if traded to fiat.

Yes otherwise that would defeat the object of decentralized exchanges.

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