03-01-2018, 11:49 PM
In my part of the world, all digital currencies including bitcoins are considered illegal and by default, they are not valid legal tender in which any financial transaction can be conducted. But unfortunately, as much as illegal they are, they are also considered as taxable and so often, the tax deduced on their behalf is very enormous. Along with tax, mind you, they come with fines too by the court of the economic advisory council.
What is the status of bitcoins in your country? What logic can be applied behind making something both illegal yet taxable?
What is the status of bitcoins in your country? What logic can be applied behind making something both illegal yet taxable?