Why is the Bitcoin transaction tax still rising (is Bitcoin taxed?)

08/07/2023 02:26 • Blockchain Briefs • 103 views

Why is Bitcoin transaction tax still rising? Why is Bitcoin transaction tax still rising According to Forbes article, the transaction fee for Bitcoin has increased from $10000 per year to over $50000 today. Although there is currently no clear definition of the tax policy for digital currencies, this means that Bitcoin traders can choose not to pay fees to the government – that is, if companies are willing to pay more for goods and services (such as real estate) or use encryption technology to transfer funds without regulation, they will have to pay more profits and costs. Therefore, there is reason to believe that Bitcoin may have a higher value than gold: “When you have a new asset, you should purchase it and convert it into another asset. However, although people have been using this new thing more and more, some may even ask: If you are an investor, will your stock rise? We are currently looking for other investment opportunities. “

Is Bitcoin taxed

Editor’s note: This article is based on data and is authorized to be reprinted by the Daily Planet Bitcoin is defined as property. In traditional tax rules, monetary Capital gain are determined according to the tax obligations declared by the Internal Revenue Service, while crypto assets do not belong to this category For encrypted assets, levying income tax from the United States is a relatively easy problem to solve, as it can help people better understand and understand their value, trading methods, and returns. However, there is currently no clear statement on how this field should be treated. If investors hold more than $100000 (about $100 million), they will have to pay 20% of Personal income tax; If you have $200000 of assets, you need to pay 15% of the ordinary Gross national income tax (equivalent to 3000 yuan) However, whether this regulation applies to Bitcoin remains to be answered urgently, and some even argue that ‘without legal basis’ it is unlikely to apply. (Note: Robert Carlson, the director of the Internal Revenue Service, once said, “If you want to convert encryption revenue into anything else, you must consider these costs.”). For example, if you buy stocks and bonds, your stock price has dropped by more than 50% now. Therefore, there is a saying that if the return on investment of Cryptocurrency is very low, you may put your money into the stock market to earn interest or sell them in exchange for cash, and then sell them

So we all know that when you buy a digital currency or use it as collateral, you must first pay a certain proportion of Capital gains tax. But over time, this situation may change. For example, if you wish to use BTC for collateral mining, the amount of currency you receive will decrease. In addition, as users cannot access your account through third-party service providers and cannot directly withdraw their funds from the exchange, this means that you cannot deposit enough funds with the bank, and you still need to bear some risks, including but not limited to transaction fees, etc In short, if a project successfully raises a large amount of funds and is approved before submitting an application, the proposal will also be affected, and of course, some procedural requirements can be waived.

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Why is the Bitcoin transaction tax still rising (is Bitcoin taxed?)

Is Bitcoin taxed

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