I believe there will be a showdown at some point between cryptos and governments. The issue boils down to this: as the crypto market grows, more and more money that would have otherwise poured into stocks, bonds and real estate, will funnel into cryptos, thus destabilizing the legacy financial markets.
This will become more apparent as cryptos go in the multi-trillion territory and sizable selling pressure begins to materialize in global stock markets.
The larger crypto gets, the more pressure the regulators have to do something..
Especially if something goes bad with crypto and they are the ones that input the regulation, it's a notch on their resume of "We saved the retail investors from crypto!", etc
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So why do they just leave it alone? And yes that is rhetorical.
I think the US government has to really think this one through. On one hand if they try to come in and regulate users of crypto will find ways to get around it. On the other if they do it in a manner that only regulated exchanges I think most people in the space will vary on as they have been. My question is this however. To what extent do they tax crypto? Do they only tax when converted into fiat? Or will they tax every Time crypto is used to purchase (which included crypto to crypto)?
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