Australia
Since 1st July, Bitcoin is considered money - no more "goods taxes" on trading. It used to be double taxed, now we can expect more exchanges to pop up in this wealth part of the globe.
http://www.budget.gov.au/2017-18/content/glossies/factsheets/html/FS_innovation.htm
Japan
Even thought Bitcoin became really popular and easily accepted everywhere form of payment there was still 8% Consumption Tax on every transaction. Now it has stopped due to Liberal Democratic Party which asked Japanese Finance Minister Taro Aso to stop this. Since JPY is already a huge volume price pumper now we can only expect to go higher in this currency.
Delaware (USA)
This is a place known for opening no-tax companies if you are not resident of USA and wont do business in USA. Now this state will allow trading of stocks on the blockchain. This means all incorporated companies there will be able to release shares as tokens on blockchain. Its supossed to get active on 1st August. Not all specifics are known yet.
Due to complex nature of legislations in this news if you have anything to add please leave info in comments.
Especially that those are new and posts are active up here for 7 days.
Current Bitcoin Markets
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I didn't really understood so that means government will now be able to tax on bitcoin ?
and the others criptocurrencies too ????
if is that so it would be a disaster
Do you know what does this mean @hannahlicious ?
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Im glad at least Delaware is jumping on board. If any state would start, you better believe it would be corporation friendly Delaware.... I was worried the United States was going to be stuck in the dust with the crypto industry.
Could Delaware become the new wall street? Very interesting!
Wow, that sounds like good news for crypto currency holders. Block chain will be widerly adopted for sure.
I hope bitcoin and other cryptocurrency stays clear from othee taxes. Government should not put their legs into it.
Btw thanks for sharing such a lovely post.
Keep sharing keep smiling
God bless you @kingscrown
Ha ha, how about No Fences Boulevard?
Good to know, I'm trading in Australia as well and purposely waited for EOFY to start trading crypto currencies, so this is useful to know!
The government seems to be slow on catching onto the latest trend. Anyway, I wonder how will they have the necessary tools and resources to enforce people to pay "taxes" on their bitcoins since everything is decentralized.
Isn't escaping from control and centralization the main reason why people are using bitcoins and other cryptocurrency?
Great point and totally agree.
It's also interesting to note that the ATO (Australian Tax Office), NSW Gov, and Vic Gov were all sponsors of the recent Consensus 2017 (Coindesk conference). Another thing is the ATO has made large investments in a blockchain company based in America with the aim of bringing blockchain technology to the stock market, which would reduce fees by the billions.
That's interesting too! I think I read something about another company bringing this technology to the stock market. I'm going to say Iconomi but I think that's more from a portfolio / fund management perspective though. Nevertheless super interesting concept. But back to ATO, you can clearly see the 'double interest' there as well, right? Whatever ATO can do ensure that gains are properly taxed is in their interests as well. It's one of the reasons I only started trading cryptos after the EOFY in the hopes that they will have some clearer guidelines come next EOFY on July 2018. Just thinking out loud, say you have a portfolio of all sorts of coins, which rate would you use to declare back in AUD? The average on an exchange? Hmmm, haven't really thought about this much yet. Anyways, thanks for your reply @crypto-ta!
Just wondering what you actually mean by "bringing blockchain technology to the stock market"
Are u referring to the blockchain being represented on the exchange via derivatives such as ETF's much like Mark Zuckerberg and mates intended to do on the US stock exchange?
Hi @speedie-s40r, sorry for the delay in response. I'm new to the platform and I'm still figuring out how I can be alerted when someone responds to my posts... As to your point, I was thinking about the introduction of smart contracts in trading stocks between traders, subsequently cutting out the middle man, i.e. brokers and their high fees. Makes sense?
Hi transptrader, thanks for getting back and answering my question. Should that happen the future of the block chain is looking very bright indeed. I'm new to this platform as well and tiring to learn how to navigate around it is taking a little time.
veritas veritaseum. up 5000% percent since may, this is the tech. jump on while you can.
the winner in that space is already on the market. veritas veriteseum.
nice post! Thank you
All i can say is Marty we have to go Back and buy
more BitCoin
<<<<<<<<
If only I could figure out a way to slap my self 4 years ago to buy some bitcoins smh lol
loool yeah we might have to ask Doc if he gives us his time machine formula to go
bak in time :)
SteemOn
0.00006445 BTC $0.16 USD FOR DAY USE MY CODE 4325
0.00193347 BTC $4.91 USD FOR MONTH
check out my video about this
https://steemit.com/bitcoin/@quantumdragon/nanohash-bitcoins-real-1
🚨 SCAM ALERT 🚨
Look up Nanohash on Youtube or google
Looks like a fraud
@Wiedy
nanohash still paying you are a spamer im just spreading a new mining cloud, its paying out so is not a scam if you can prove it is a scam give the info, not just writte on all my comments the same, i can do it back and flag you because its paying right now and is online http://nanohash.net
Do you mean I am a "spammer"? How do I spam if I am just commenting under YOUR spam?
I think Nanohash a scam because there is no real support on their site, they say the telephone number is coming soon, the registrated adress is a small landside in the UK, the server is in russia, there are numerous articles that users had a bad experience, they tell you min payout is 1$ and then they tell you its 20$ and you should mine more...
you just want people to use your affiliate link thats all!
Rant over @wiedy
indeed. they said that their datacenters are from russian federation iceland and germany, and so then why is paying out right now? scam is when someone invest and loss they are giving for free 15KH/s for anyone who wants to start a mining bussisnes, and they are paying out, look payout 0.420 BTC in 9 days, its my second day and look there are the double of new total users, im the 4325
https://www.nanohash.net/about
You Sir are straight up naive!
As you say you are there since two days and never got a payment!
They dont even tell you what coin you are "mining"
They claim to have paid out whopping 0.42 BTC thats not even 1500 USD haha; 12% interest per day 4500% annualy I mean come on man
Happy 4th of July
I am not going to answer another time @wiedy out!
Going in the right direction.
Title should be: "Governments want to rule over Us"
Too bad they can't control cryptocoins nor can they enforce taxation.
Sadly if they regulate the exchanges, and most are regulated already they can then have a great deal of control over Bitcoin as they can shut accounts down, prevent spending from certain accounts, Prevent you from cashing out and basically do whatever they want. It seems a lot of people store their Bitcoin and other cryptos on exchanges instead of using a cold storage wallet which puts them at the mercy of the exchanges and who ever regulates them, which seems to be the governments.
Good news, especially in japan ✍
It's great news for for Bitcoin. Hopefully Russia and India will follow the same path soon. Hope Bitcoin scaling issue gets resolved sucessfully
Free markets!!
In the states we also have this regulation vote coming up on July 14th. If the article is correct, this will likely be a big deal for those of us in the US.
Uniform Regulation for Virtual Currency Businesses: Coming to a State Near You
How could they regulate it or I should ask is it even possible to regulate. It really looks like more trouble than it would be worth for a state would go to that extent to regulate a merchant or their currency in any way. Some states are in debt real bad so they might try but how could they do it successfully. I sure hope thy can't.
we are on a good path
interesting
@kingscrown isn't it great to hear that governments are taking interest in cryptoworld? Its very nice post. I guess Germany could be also part of this pack https://steemit.com/politics/@maochitse/german-politicians-join-advisory-panel-on-blockchain
If bitcoin charges are successful then another cryptocurrency will be passed.
I never thought i would be proud of being born in Delaware. you learn something new everyday lol
This is joy for some
Bittrex rocks
I stopped using poloniex and turned to bittrex
why are you doing that? I am in both right now
Esto me gusta perfecto adelante
Followed, Resteemed and of course i voted up. Excellent article thank you for the knowledge.
Best of Luck
Thank you!!
This is awesome. They got something right in the budget for once lol. Hope to see more Australian retailers like this bar (http://www.dailytelegraph.com.au/news/sydney-pub-first-to-accept-virtual-cash-bitcoins-as-payment-for-beer/news-story/a363c7b27e7afc34d6408c914389dfe5) accept bitcoins
Wow, that's really a great news.
Goods Tax will not be imposed on bitcoin and will be considered money in Australia! This will save traders from double taxation.
Hope,we get some more great updates about it.
Thanks for this nice brief article.
Bitcoin is not taxed in Australia?.
the coinspot.com.au index did not charge me gst (tax) on my purchases, but they do have premium prices compared to other indexes....my guess is if you sold for a capital gain they would want that declared though
I really don't think Bitcoin can be control at this rate. We all know it's the future currency, embrace it!
I just hope Blockchain and crypto stays free and not controlled by the government.
BITCOIN, why u no go up ლ(ಠ益ಠლ)
Wow looks like We're in the right direction XD, laila.
Will become more common and accessible, it's only a matter of time.
But i think Litecoin will take the place of bitcoin for day-to-day operations ... but this discussion is for another opportunity.
Thanks for the article. Upvote and resteem!
If government tries to control this we need to stop them! They can be apart of it if they play by the rules! Good post thank you
The government only wants to take part because this is the next big thing !!
Why did @poloniex steal my money?
Really cool...thank you for the update. I feel like we've only scraped the surface for what could be a huge flood of cashflow from cryptocurrency.
Looking forward to your new content!
-JackThaR1ppir
This is the type of posts i like to see, all good news, thanks brother. "Bitcoin Accepted Here" popping up all over the Silicon valley, and this bullish market got me like...
Thank you King, it's great that Australia joins into party with India. Hope more South American countries to be involved too. South Korea already in plan to legal the bitcoin .. lets hope the best, I don't know about African countries yet, hope they are in the party.
I am worried about developing markets where there is lot of corruption and loose compliance. Once the governments realize that digital currencies will be used to stash away wealth they would be worried about any growth in bitcoin economy
Great news. I hope the Gov will stay away from Cryptocurrency. Anyway, they have enough stuff to worry about. Thanks for sharing.
Get on board Califonia
Thanks for sharing although I don't understand to much lol By the way I would highly appreciate if you could take time to visit my Introduction I would like to know your thoughts. :)
Interesting it is good there is no reason to pay taxes
This is madness. Should be illegal.
If everyone starts raising money via ICOs, day is not far when SEC wants to start regulating this.
New wall street in Delaware for digital currencies? This is a news to watch closely. Thank you for sharing dear @kingscrown
Bitcoin is the future. We have to invest now
Great news, thanks for sharing!
interesting as I live in AU and have bought some cryptos prior to july 1st and did not pay gst on the transaction, unless the gst was hidden in the transaction fee? but it was not itemised as it probably should have been. I use coinspot.com.au, but probably a moot point now if the gov says no gst to be charged going forward.
More and more countries are now adapting Bitcoin, hopefully in the future every country will follow. Very Interesting.
Its good news as crypto world is the the future of the planet and in the near future all governments will be run through Digital currencies....