01-02-2022, 03:30 AM
If we don't pay our taxes, we will get regulated to oblivion
<!-- SC_OFF --><div class="md"><p>Paying taxes isn't fun. I don't like it, you don't like it, nobody likes it. But if we start to be seen as a tax evasion group, it will be the death of our ecosystem.</p> <p>Think about it. Most retail investors let their tokens sits on exchanges like Coinbase, Binance or CDC. Those companies have to abide by local laws everywhere they operate ; therefore, it will be very easy for many governments to see if people are using those services to do tax evasion. And if it's true that a good portion of the customers do this, they will simply regulate those exchanges to oblivion. </p> <p>And without big, centralised exchanges, nine crypto holders out of ten will leave the space. That would be absolutely catastrophic for the whole ecosystem. The technology would survive, and eventually we would recover, but those kind of regulations is precisely what can send us into a bear market.</p> <p>So, yeah. I know it sucks, but please, don't try to avoid taxes on your crypto gains, even those you made on decentralised exchanges. Or, at the very least, don't come out here saying to everyone how you plan to dodge your obligations.</p> <p>Remember : if you have to pay taxes, that means you made profits, so you should be happy about it!</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/busterrulezzz"> /u/busterrulezzz </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rtkldp/if_we_dont_pay_our_taxes_we_will_get_regulated_to/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rtkldp/if_we_dont_pay_our_taxes_we_will_get_regulated_to/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>Paying taxes isn't fun. I don't like it, you don't like it, nobody likes it. But if we start to be seen as a tax evasion group, it will be the death of our ecosystem.</p> <p>Think about it. Most retail investors let their tokens sits on exchanges like Coinbase, Binance or CDC. Those companies have to abide by local laws everywhere they operate ; therefore, it will be very easy for many governments to see if people are using those services to do tax evasion. And if it's true that a good portion of the customers do this, they will simply regulate those exchanges to oblivion. </p> <p>And without big, centralised exchanges, nine crypto holders out of ten will leave the space. That would be absolutely catastrophic for the whole ecosystem. The technology would survive, and eventually we would recover, but those kind of regulations is precisely what can send us into a bear market.</p> <p>So, yeah. I know it sucks, but please, don't try to avoid taxes on your crypto gains, even those you made on decentralised exchanges. Or, at the very least, don't come out here saying to everyone how you plan to dodge your obligations.</p> <p>Remember : if you have to pay taxes, that means you made profits, so you should be happy about it!</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/busterrulezzz"> /u/busterrulezzz </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rtkldp/if_we_dont_pay_our_taxes_we_will_get_regulated_to/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rtkldp/if_we_dont_pay_our_taxes_we_will_get_regulated_to/">[comments]</a></span>Kind Regards R