Tfw my country just had a news report fudding bitcoin to the point my dad told me to not fall into this thing

>Tfw my country just had a news report fudding bitcoin to the point my dad told me to not fall into this thing

Thanks fudders

Haha, same here OP. Central bank over here requires every crypto txn to fiat has to be reported and that crypto over here is about to fall under an anti-money laundering act starting next year. Massive FUD

At the same time, im cucked

sounds more like you are going to prison instead m8

...

I think outlawing BTC will only make it more valuable.

What country are you from?

Their not intending to outlaw it man, just impose regulations. They voiced out their concern that they dont want this to be used for illegal purposes (terrorism etc). There’s 11 exchanges available in my place and each of em are requires to report our info and txns..im lucky i didnt register for none of those exchages, user

Malaysia, you?

This is only a problem if you have big money invested right? They're not going to come after small time dudes?

Italy, right now there's no regulations because before it got popular the gov said "dude it's just a coin (yes, they actualyl aknowledge it as a coin), so we're treating it as a normal exchange, like how people can buy dollars with euro without saying anything" unless you cash out more than 50k per week, in that case you need to give them a 25%.

Now the news are fudding it hard, but at the same time they talked about the tax evasion and money laundering "features", so I'm worried abou that. Well, I do plan to pay taxes so I don't mind that, just don't plain ban it please.

>all parties acting as exchanges in the digital currency space would be deemed as “reporting institutions” under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (Amla) 2001.

That means those involved in the business of converting digital currencies into fiat-money currencies or legal tender would be required to provide detailed information on buyers and sellers of such currencies

Most likely, but everyone registered under those 11 exchanges are fucked, cause their info’s gonna be out there

I don’t think italy will ban it, but most likely they dont want exchanges to be used for anything illegal. Worst case scenario is that any txns for crypto will be monitored (maybe crypto to fiat...when we try to ‘cash out’ lol)

Right now im worried if my country is gonna follow Japan, cause they went as far as only allowing certain exchanges with a license from their government to operate

Yeah, speaking of tax..for now there isnt any tax imposed for any withdrawals of fiat from the crypto exchanges but starting next year they’ll impose it

Dealing with binance and cex.io atm, but ive got accounts on poloniex, bittrex and hitbtc. Chances of getting tracked are high.

and a coinbase account as well,but couldnt use it lol. Fuck, that’s a lot of exchanges with my personal data

They can come after small time dudes as well.
Like in this post, the exchanges are responsible to report every txn..and each txn is gonna be taxed so, there’s no way to evade it. Thing is, like the previous posts, im registered under a fuckton of exchanges and only use 2 at the moment..but all operate outside my country. Am i safe anons?

6000 incoming in 1-3 days

It's so funny how they talk about tax evasion and money laundering. Just look how easy you can do that within EU already. Not to mention tax free havens in the world. They be fudding hard right now.

tfw you are from Russia and nobody gives a fuck because nothing works properly, and when government comes around to actually release legislation, it will be 2330.

Can you record yourself speaking English for me? I'm quite curious about what your accent sounds like especially since your English is so good.

>using the past to predict the future in a highly dynamic market with continuous bullish sentiment and no bearish news
ban yourself lol. shorters making everyone dumber with these posts