In Ukraine can impose taxes on crypto-currencies


#1

The state is going to undertake not only licensing of crypto-exchanges, but also regulation of the ICO market (Initial Coin Offering - a form of attracting investments in the form of selling tokens).

In the near future in the Verkhovna Rada there will be a collective bill providing for a tax of 5% on the withdrawal of crypto-active assets from the exchange in real money.

Taxation of 5% on the difference between the price of selling a token and the documented price of its purchase (or the cost of mining) is planned to be introduced from 2019 on a temporary basis - until 2025.

The tax will only affect the withdrawal of funds in real money or when buying goods and services, for example, real estate. Operations between different crypto-currencies will not be taxed.

The National Commission on Securities and the Stock Market will act as the regulator of the market. The Office has already prepared a concept for regulating transactions with crypto-currencies.

The commission is going to undertake not only licensing of crypto-exchanges and crypto-exchangers, but also regulation of the ICO market (Initial Coin Offering - a form of attracting investments in the form of selling tokens).


#2

This is a really good way to tax people. They wilk only pay 5% tax on the profits earned. This is really fair and actually good for both the governement and the public which are engaged in trading/investing. They are getting their gains and government is getting extra taxes which it can use wherever it finds a fit use for the betterment of its citizen.


#3

Yeah, It is rightfully said so. First, if ICOs are taxed, then scam projects will be minimize. It is a for if regulating ICOs activities wherein only compliant projects and teams can undertake such activities. Scammers cannot show their faces off if they are gonna scam, otherwise they will be jailed. Second, taxing cash out activities will also help in regulating the supply and demand of crypto. Traders and crypto people will minimize their cash out activities to avoid/lessen taxes for a period of time. Instead of everyday cashing out they can make it weekly, if taxes will be different or reduced. Third, it also just and legal to impose this regulation as people are taxed from any benefit we get in from living in a country. So, we cannot do anything but pay, in case applicable.