Cryptocurrencies

Spain toughens the tone for citizens wanting to hold cryptocurrency – Cryptocurrencies

This is why we should not laugh at John McAfee’s setbacks with the US tax authorities. I hear the moralizers from here: yes, but you know, it’s only normal for a government to use all means to collect taxes that will benefit its citizens.

When a government has fun devaluing the currency by making them bear the weight of inflation, interfering in their private life in the name of the national interest, it is also necessary to continue to bleat, that it is complitly normal ?

A liberticidal bill is in the process of being ratified in the Spanish Parliament. In the sights: cryptocurrencies of course.

Tax, crypto, Montero

A new bill on taxation in Spain is in the process of being ratified by Parliament.

This project had received the approval of the Council of Ministers according to a statement released by the country’s finance minister, Maria jesus montero.

The objective would be to put end to illegal tax transactions, but this law could have repercussions on the cryptocurrency industry.

The crypto boom in 2017 prompted several countries to step up tax audit to capture part of the profits made by the cryptosphere.

A recent government-led crypto awareness initiative enabled 350 civil servants to receive the equivalent of one euro in cryptocurrency.

Spanish banks are also showing increasing interest in cryptocurrencies and blockchain technology, as evidenced by the recent partnership between Santander and Ripple.

Espionage legalized in the name of the collective interest

The bill requires Spanish citizens to declare any use or possession of digital assets, even if these goods are kept or traded outside the country.

The project furthermore prohibits cash transactions over EUR 1,000 whereas the limit was previously set at 2,500 EUR; this ceiling nevertheless remains in force for non-commercial transactions between natural persons.

Some suggest that like any payment over 1000 EUR should be made in electronic form, it is about strengthening the surveillance of Spanish citizens.

The launch of central bank cryptos (CDBC) would greatly facilitate the financial monitoring and control.

Pub

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. Your capital is at risk.

CDBC: Governments have taken advantage of the rise of cryptocurrencies to launch a Trojan horse that will further expose the privacy of everyone in the eyes of state institutions. Roll on the rebellion of Generation Z?

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