Reasons and Stages of introduction taxation of Cryptocurrencies

Causes.

At the stage of the formation of cryptocurrencies, projects directly related to digital currencies developed. However, over time, some participants in existing companies on the fiat market began, without the knowledge of the crypto community, to use this direction to receive tax-free financing. In other words, they began to use the crypto community for the purpose of tax evasion.

Reasons and Stages of introduction taxation of Cryptocurrencies
The rapid development of the digital currency industry has given rise to many solutions and directions, often multidirectional and contradictory. Instead of developing the industry, this caused tensions between market participants to grow and led to the accumulation of technical incompatibilities. The lack of control has given rise to an increase in fraud not only from outside forces but also from the staff of many companies in the cryptocurrency market.

Excessive public attention to the new market has distracted company management's attention from the performance of immediate duties. And the growth of misunderstanding and tension between market participants completely led to the abandonment of the owners of their companies.

The technical and organizational complexities of a heterogeneous cultural and technical environment have led to an uncontrolled mix of various digital assets of individuals and legal entities, cryptocurrencies, and fiat companies, including not only monetary assets but also legal entities' holdings.

The tax imbalance has led to the accelerating involvement of all companies in cryptocurrency financing and mutual distrust of the impossibility of stopping this process. The arrogance of youth and the stubbornness of old age has led to the creation of a world pyramid that threatens to destroy the institutions of company ownership, institutions of social welfare of the population, and the inevitable increase in social inequality and related unrest, including contributing to the incitement of conflicts.

Unfair competition and lack of vision of the whole thing, lack of responsibility, misunderstanding of the consequences, withholding information, and a banal desire to hide the traces of one's own mistakes led to the impossibility of eliminating the accumulated problems in another way. In this regard, a decision was made to introduce taxation on the cryptocurrency industry.

Stages of introduction

In the first stage, a solution is needed to separate the private investments of enthusiastic apologists for the crypto-currency market from investments made by legal entities. For this, the Pterygota Marker project was created, which takes into account the total volume of private investments involved and the possibility of voluntary investment of funds by investors for further profit, without the risk of a one-time loss of all funds, which will inevitably lead to the absence of any action. The implementation period is until August 01, 2023.

In the second stage, it is necessary to accumulate funds from legal entities for investment in the Aething application project. This investment will save funds invested by legal entities from completely burning without wasting time trying to distribute these funds among depositors. Also, this project takes into account the expected volume of investments and will allow, within a short period of time, to eliminate the decline in the economy, raise the incomes of the population and their expectations, create new jobs, and normalize relations between market participants. The implementation period is until August 01, 2023.

In the third stage, it is planned to introduce a single fifteen percent tax to unify taxation with the single tax introduced in 2023 for international technology companies. This will create uniformity of tax legislation and enable stable development of the industry in accordance with the development plans and projects proposed by industry participants. The implementation period is the end of 2023.

We want to express our deep gratitude to everyone who contributed to the popularization of cryptocurrencies despite the active opposition of unidentified persons. A single tool for managing all assets provides an unrivaled opportunity to help society and offset the negative effects of inflation.

May 19 / 2023

Text author: Ihar Kul


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