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Japan To Regulate And Tax BitCoin As A Commodity | Special Comments

December 31st, 2014 | by BTC News
Japan To Regulate And Tax BitCoin As A Commodity | Special Comments
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As expected as soon as Bitcoin becomes any kind of threat to the Capitalist system, it will be regulated and turned into a commodity. This is a special uploa…

 

6 Comments

  1. avatar ChanologyAgent says:

    The Japanese government is going to have about as much luck of enforcing
    this as NHK has had in collecting license fees. 

  2. avatar manoj ms says:

    In the wake of the MtGox collapse, Japan is looking into regulating Bitcoin
    — including a possible tax on the cryptocurrency, according to a report
    Tuesday.
    The Yomiuri Shimbun newspaper said that the finance ministry and national
    tax agency are looking into ways to govern Bitcoin transactions. Officials
    think that purchases made with the digital currency should be taxed
    according to existing consumption and corporate tax laws, said the Yomiuri
    Shimbun, although the report did not cite any sources.
    The move would mean Bitcoin would be treated not as a currency, but as a
    commodity, like gold. Money made from trading the currency online could be
    taxed, according to the Nikkei Asian Review.
    The U.S. is taking the opposite approach — for now. Yesterday, Federal
    Reserve Chair Janet Yellen said that the U.S. federal reserve can’t
    regulate Bitcoin because it operates outside of the banking system. She did
    say, however, that Congress could institute some sort of an overseeing
    committee.

  3. avatar Comrade Jakendad says:

    Great video man! I was unaware of this, so thank you. Oh also I just
    finished reading that massive “debate” from a few videos ago between you,
    the libertarian troll Scotty M, and that other individual. That was some
    good stuff. I tried talking sense with him as well, I can copy down our
    little discussion between me and Scotty M if you want me to comrade, it is
    funny:) Anyway, thank you once again. 

  4. avatar doctorhowdies says:

    Meh, as long as you can buy things with BTC, which you currently can buy
    almost anything, that’s all that really matters. Gold is a commodity too
    but rich people use it like money among themselves when they want to stay
    out of government controlled currency. Some people even treat currency
    like a commodity and trade forex futures etc… I agree with Unruhe’s
    (sp?) technical analysis but what people end up doing with it
    democratically is anyone’s guess, the indicators are that it is a popular
    medium of exchange on the internet.

  5. avatar Kathy Reed says:

    It’ll be interesting to see if this hampers BitCoin’s popularity elsewhere
    and if any other country tries to comodify it.

  6. avatar Kathy Reed says:

    The end of BitCoin?

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