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Crytocurrency Taxation


focusedwriter10

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Yes, cryptocurrencies are more of an investment than an actual currency as of right now. When an individual or corporation is making money, they have to pay income or business taxes. Governments also need to tax cryptocurrencies because of the pressure mining operations puts on utilities, people cannot just generate money without having to pay what they owe the government. It's a contribution to society and not something that should be avoided by anyone in the first place. 

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Yes i think that Cryptocurrencies should be taxed and i think they are taxed by most of the countries around the World. Basically anything that you own is considered to be an asset , therefore are  all sort of cryptocurrencies like Bitcoin are the assets that you own. The profit that you make by sale of Bitcoins is also taxable.When you are holding a cryptocurrency then the short term gains and long term gains are also considered for taxation.

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