I understand. I just think it sucks that the government can nail you only on profits. My account was hacked last year so I lost $1200. In my eyes that should be written off against any tax they want to tax me on crypto profits.
RE: Multiple-Chain DApps & Cross-Chain Atomic Swaps + Taxation
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Multiple-Chain DApps & Cross-Chain Atomic Swaps + Taxation
I think you just might be able to write it off as permanently lost. Has the South African government released any guidelines as to how cryptocurrencies are taxed?
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No the SA Government will come up with something. They are desperate to refill the coffers after all the thefts and corruption so expect something harsh. At the moment if you deposit or withdraw more than $1000 it raise red flags. There is only a couple of overpriced local exchanges that operate here.
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To bypass all that shit:
https://www.iol.co.za/business-report/economy/sas-first-cryptocurrency-atm-comes-to-joburg-14982296
It doesn't say whether you can also sell Bitcoin for fiat using that ATM, though.
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Hi markku. it will be one way system. Pay for Bitcoin and not the other way around. I saw an article about ATM's in Malta the other day where it works both ways. If they were launched all over the world that would help and would create more loopholes.
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There are Bitcoin ATMs in Helsinki metropolitan area and other larger localities. Some are two-way.
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