The Impact of Economic Policies on Cryptocurrency Adoption: How Do Taxes Affect?
Hello friends of Project HOPE, I hope you are all well. I would like to share information about something I have recently seen in a video in which a very important Spanish Youtuber traveled to Dubai and interviewed some millionaires, and in reality the video revolved around knowing how they had become millionaires, but one of The things that impressed me is that many go to the United Arab Emirates because there is no tax on cryptocurrencies.
The latter caught my attention a lot, because it is very evident that economic policies have a great impact on whether or not cryptocurrencies are adopted as an investment model. A fairly clear example is the approval of Bitcoin ETFs, which has allowed a large amount of capital to enter this area, and if we see the percentage of the population in the United Arab Emirates that have Cryptocurrencies, it is surprising.
Data states that 30% of the population in that important economic zone of the world have cryptocurrencies, which is an impressive number, at least according to what I have been able to see. If I compare it with what happens in Colombia, where the government wants to take advantage of everything, where they are in a kind of witch hunt to collect taxes on everything, including cryptocurrencies, of course, you can clearly see that here those of us who have cryptocurrencies , we prefer to remain fairly anonymous.
Even a few years ago I could easily see that some stores accepted BTC or other cryptocurrencies as a form of payment, but as the national government has intensified its intention to regulate and, above all, to want to take away a good part of crypto holders of the profits obtained, this situation of crypto acceptance is no longer as notable as it was before.
So, even if we don't like it, it is evident that when states begin to want to get their hands on everything, what happens is that there is resistance to acceptance, they practically limit development, and it is not just about paying taxes, it is that these They are usually very high, and on this side of the world, in Latin America, the levels of corruption are tremendous, which makes one question a lot about taxes to improve the country...
Unfortunately, states are powerful, and they will always want to be involved in everything with the excuse of protection when intentions are uncertain, or perhaps if we know quite well what they want. Anyway, I would like to know what you think about it, Greetings, and by the way, happy day to all mothers on your day.
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