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Author Topic: Bitcoin Discussion  (Read 232929 times)

Offline Humble Trader's Fx

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Re: Bitcoin Discussion
« Reply #885 on: June 01, 2021, 12:48:15 PM »
South Korean government officials have reached a decision to impose a 20 percent tax on all crypto gains. The new regulations will be put into force in 2022. Profit from digital coin transactions will be classified as miscellaneous income, and will have to be reported in the May 2023 general income taxes reports.

The plan to act so swiftly was originally announced sometime earlier in 2021 during a vice-ministerial interagency summit, that was overseen by Koo Yoon-Cheol, head of the government policy coordination.

It was decided then that the South Korean Financial Service Commissions (FSC) will be the central watchdog to regulate the nations crypto ecosystem. The FSC is the official South Korean financial and FX regulator.

Smart move, not only regulated but tax it too. Let's see those "daring darlings" try to hide their crypto transactions and face huge penalties if not jail time as well.
 Now let's see where this leads other countries to follow?


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HumbleTrader
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Offline fxopen78

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Re: Bitcoin Discussion
« Reply #886 on: June 02, 2021, 12:03:42 AM »
I think taxation crypto will begin to regulated in many countries because volume transaction in cashless included crypto arises from years over years, maybe the main target is exchanger in the jurisdiction, it possible to take tax from every buying and selling transaction just like take a commission in trading.

Offline Price Pays

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Re: Bitcoin Discussion
« Reply #887 on: June 02, 2021, 08:18:57 AM »
He played the system, bought low, created a stir making the crypto jump and sold at a very large profit.

It's called trading. ;)
Only price pays!

Offline Humble Trader's Fx

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Re: Bitcoin Discussion
« Reply #888 on: June 02, 2021, 10:31:09 AM »
He played the system, bought low, created a stir making the crypto jump and sold at a very large profit.

It's called trading. ;)

In one way you are right but if it leads to "manipulation" and proven its called:
The US Securities Exchange Act defines market manipulation as "transactions which create an artificial price or maintain an artificial price for a tradable security". ...

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HumbleTrading
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We humbly approach the Forex Market and take only what is earned through our hard work and intelligence.

Offline fxopen78

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Re: Bitcoin Discussion
« Reply #889 on: June 07, 2021, 12:06:55 AM »
Cryptocurrency still becomes controversy, after Elon musk, then boss of Twitter  Jack Dorsey supports Bitcoin, and there is news if Norton antivirus adds Ethereum cryptocurrency mining.

Offline Eliza Abrams

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Re: Bitcoin Discussion
« Reply #890 on: June 07, 2021, 11:58:11 AM »
In the worlds tightest regulated space for crypto investors, the same traders are bypassing regulatory barriers in the thousands. Chinese cryptocurrency traders and investors are circumventing the tough rules by means of foreign as well as local over-the-counter platforms. Another popular method is peer-to-peer networks. Both methods make it difficult for authorities to enforce their draconian regulations.

Chinese users are reported to be using OTC and P2P networks via an array of virtual private networks.

Over-the-counter desk activities have spiked ever since the Chines government introduced a majors crackdown on the local crypto market.

It looks like the Chinese aren't bothered by the crackdown much. Or they're bothered but are circumventing it pretty easily. Thoughts?

Offline Humble Trader's Fx

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Re: Bitcoin Discussion
« Reply #891 on: June 07, 2021, 03:09:37 PM »
In the worlds tightest regulated space for crypto investors, the same traders are bypassing regulatory barriers in the thousands. Chinese cryptocurrency traders and investors are circumventing the tough rules by means of foreign as well as local over-the-counter platforms. Another popular method is peer-to-peer networks. Both methods make it difficult for authorities to enforce their draconian regulations.

Chinese users are reported to be using OTC and P2P networks via an array of virtual private networks.

Over-the-counter desk activities have spiked ever since the Chines government introduced a majors crackdown on the local crypto market.

It looks like the Chinese aren't bothered by the crackdown much. Or they're bothered but are circumventing it pretty easily. Thoughts?

I don't see any issues with private citizens exchanging "bubblegum" wrappers, but eventually, they would want to exchange these wrappers with "real cash" and that is when authorities will hit them hard with money laundering.

Regards,
HumbleTrader
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We humbly approach the Forex Market and take only what is earned through our hard work and intelligence.

Offline ExpatFX

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Re: Bitcoin Discussion
« Reply #892 on: June 07, 2021, 05:44:17 PM »
In the worlds tightest regulated space for crypto investors, the same traders are bypassing regulatory barriers in the thousands. Chinese cryptocurrency traders and investors are circumventing the tough rules by means of foreign as well as local over-the-counter platforms. Another popular method is peer-to-peer networks. Both methods make it difficult for authorities to enforce their draconian regulations.

Chinese users are reported to be using OTC and P2P networks via an array of virtual private networks.

Over-the-counter desk activities have spiked ever since the Chines government introduced a majors crackdown on the local crypto market.

It looks like the Chinese aren't bothered by the crackdown much. Or they're bothered but are circumventing it pretty easily. Thoughts?

"You can't manage want you can't track..." ;)

Offline fxopen78

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Re: Bitcoin Discussion
« Reply #893 on: June 08, 2021, 12:28:07 AM »
Based on the news, El Salvador maybe will become the first country that will legalize Bitcoin, because president Nayib Bukele on the announcement will submit the draft for change economy based payment transfer

Offline Humble Trader's Fx

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Re: Bitcoin Discussion
« Reply #894 on: June 08, 2021, 11:27:45 AM »
In the worlds tightest regulated space for crypto investors, the same traders are bypassing regulatory barriers in the thousands. Chinese cryptocurrency traders and investors are circumventing the tough rules by means of foreign as well as local over-the-counter platforms. Another popular method is peer-to-peer networks. Both methods make it difficult for authorities to enforce their draconian regulations.

Chinese users are reported to be using OTC and P2P networks via an array of virtual private networks.

Over-the-counter desk activities have spiked ever since the Chines government introduced a majors crackdown on the local crypto market.

It looks like the Chinese aren't bothered by the crackdown much. Or they're bothered but are circumventing it pretty easily. Thoughts?

"You can't manage want you can't track..." ;)


U.S. recovers $2.3M in cryptocurrency paid in Colonial Pipeline attack.
https://globalnews.ca/news/7928412/colonial-pipeline-hack-ransom-recovered/

Can't track? Stay tuned!

Regards,
HumbleTrader
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We humbly approach the Forex Market and take only what is earned through our hard work and intelligence.

Offline fxopen78

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Re: Bitcoin Discussion
« Reply #895 on: June 09, 2021, 12:07:50 AM »
Cybercrime always grows with its development,
Maybe storing Bitcoin will safer on a hardware wallet instead of a hot wallet

Offline drunkfx

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Re: Bitcoin Discussion
« Reply #896 on: June 09, 2021, 07:46:00 PM »
In the worlds tightest regulated space for crypto investors, the same traders are bypassing regulatory barriers in the thousands. Chinese cryptocurrency traders and investors are circumventing the tough rules by means of foreign as well as local over-the-counter platforms. Another popular method is peer-to-peer networks. Both methods make it difficult for authorities to enforce their draconian regulations.

Chinese users are reported to be using OTC and P2P networks via an array of virtual private networks.

Over-the-counter desk activities have spiked ever since the Chines government introduced a majors crackdown on the local crypto market.

It looks like the Chinese aren't bothered by the crackdown much. Or they're bothered but are circumventing it pretty easily. Thoughts?

"You can't manage want you can't track..." ;)


U.S. recovers $2.3M in cryptocurrency paid in Colonial Pipeline attack.
https://globalnews.ca/news/7928412/colonial-pipeline-hack-ransom-recovered/

Can't track? Stay tuned!

Regards,
HumbleTrader
Global Moderator

Can be interpreted as vulnerability however it's not the true most probably they traced path to fiat.

Offline fxopen78

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Re: Bitcoin Discussion
« Reply #897 on: June 10, 2021, 11:23:41 PM »
Now, El Salvador becomes the first country that adopted Bitcoin as a legal payment transfer in these country, their society that live on the foreign country can easily to transfer Bitcoin in low cost and faster than wire transfer.

Offline Humble Trader's Fx

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Re: Bitcoin Discussion
« Reply #898 on: June 11, 2021, 09:31:15 AM »
Now, El Salvador becomes the first country that adopted Bitcoin as a legal payment transfer in these country, their society that live on the foreign country can easily to transfer Bitcoin in low cost and faster than wire transfer.

Hurray! El Salvador, where you can buy the entire country for 10 BTC. A very serious banana republic to consider when investing in BTC.

IMF warns of risks after El Salvador adopts bitcoin.
https://www.france24.com/en/live-news/20210610-imf-warns-of-risks-after-el-salvador-adopts-bitcoin.


Regards,
HumbleTrader
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« Last Edit: June 11, 2021, 09:37:24 AM by Humble Trader's Fx »
We humbly approach the Forex Market and take only what is earned through our hard work and intelligence.

Offline ExpatFX

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Re: Bitcoin Discussion
« Reply #899 on: June 11, 2021, 06:50:47 PM »
In the worlds tightest regulated space for crypto investors, the same traders are bypassing regulatory barriers in the thousands. Chinese cryptocurrency traders and investors are circumventing the tough rules by means of foreign as well as local over-the-counter platforms. Another popular method is peer-to-peer networks. Both methods make it difficult for authorities to enforce their draconian regulations.

Chinese users are reported to be using OTC and P2P networks via an array of virtual private networks.

Over-the-counter desk activities have spiked ever since the Chines government introduced a majors crackdown on the local crypto market.

It looks like the Chinese aren't bothered by the crackdown much. Or they're bothered but are circumventing it pretty easily. Thoughts?

"You can't manage want you can't track..." ;)


U.S. recovers $2.3M in cryptocurrency paid in Colonial Pipeline attack.
https://globalnews.ca/news/7928412/colonial-pipeline-hack-ransom-recovered/

Can't track? Stay tuned!

Regards,
HumbleTrader
Global Moderator

Can be interpreted as vulnerability however it's not the true most probably they traced path to fiat.

ya, they not got tracked, they most probably screwed themselves.

 

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