Let's talk about the taxation policy imposition on crypto by government.
In this nonstop world of the economy, money is always moving, so the banking system and the government that runs it control it technically, and they need the money to run it, which comes from the legally earned money of tax payers. The current banking system ultimately gives the burden of tax on the normal people, which they can't escape, but there are some big giants and whales in the market that use certain loopholes to escape them in many ways.
Cryptocurrency should be taxed?
It's all started with the corrupt banking system, because they have a fear of losing their master weapon, the fiat currency. I don't understand if the blockchain is decentralised and works on the servers that are run by users, why we need to pay taxes to the government on our earnings, because they do nothing to run this crypto ecosystem.
The demand to put taxes on crypto is not new, but it became more aggressive after the collapse of FTX. After that, all the other crypto exchanges became more cautious and answerable to the users, but the government also found a way to ask some questions, like, Is your system reliable?, and many more.
I'm not an expert in tax policy or decentralised blockchain; I'm just a student and a beginner trying to fit in to earn some money, but all the scams and policies that are working against the crypto ecosystem are not good at all.
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