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Rather than banning crypto, why not tax it? Impose a 2% tax on all crypto transactions, which would serve two purposes: 1. Legitimate use would be allowed, whi
by ttul 6y ago
Rather than banning crypto, why not tax it? Impose a 2% tax on all crypto transactions, which would serve two purposes:
1. Legitimate use would be allowed, which is a good thing.
2. Illicit use could be pursued by tax auditors, who are in many ways far more effective at achieving an outcome than are prosecutors.
A ban is just a tax anyway. A tax that you pay, in risk adjusted terms, by being forced to pay the costs of dealing out of sight of the tax authorities.
- beagle3 6y agoLet's see now. Is BTC->USD conversion taxable according to your suggestion? USD->BTC? I suppose one or both, that's fine. Now, is a transaction on Binance? (That would be one crypto for another)? Is a transaction on Bitmex? (That would be futures.... not actually cryptocurrencies?) How about the Bitcoin futures on CME? A crypto ETF? It's likely possible to build a suggestion that will curb "crypto" trading, but the cat is completely out of the bag, so you have to figure out what you want to stop. But what's the real rationale for banning it?
- zoobab 6y agoYou cannot tax it, it's not built-in the code.