Ducking Bitcoin Taxes Will Not Help Industry Grow: Bittax Interview3.4

Early Bitcoin believers ventured into the digital currency industry because of its autonomy and anonymity. But the anti-establishment attitude cannot help the sector grow, according to Bittax.

The Israel-based crypto tax specialist said that most people would not pay taxes off their crypto-based capital gains. However, if a majority of the crypto industry becomes a tax defaulter, governments will put more roadblocks before its mass adoption plans. Or Lokay Cohen, the vice president at Bittax, explained that Bitcoin would gain momentum as a broadly accepted currency only when it passes through tax and money laundering systems.

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