HELLO HIVE

Crypto used to be an easy form of transaction between people from different region but now it looks like things are about to be a little bit different now major countries and cities are now coming up with plans to start imposing tax on crypto currency this comes as many people who are trying to escape tax are now using crypto to transact that way they can easily avoid paying tax , illegal transaction are being carried out using crypto currency since transaction can hardly be traced.

Crypto tax in several countries results in the slow growth of crypto ,I think without some of these rules crypto currency might have taken over most of the business and financial institution around.

Some countries don't even recognize it as a means of transaction even though they know that it is doing better than most of their cooperate financial institution,there are other countries that plan on including vats on crypto transactions and for Nigerian citizens who still make use of some of their cooperate financial institution like some of the so called banks you will end up losing some money from the maintenance fees they collect per month to the vat of seven per transactions that could rise to ten naira ,this money might look small to some of us but for account that are used to run lots of transaction it is a lot of money ,came across a friend who has as much as one thousand maintenance withdrawal from his account per month that's a lot .

Am not saying that it is bad to collect in fact it is very good but when we look at it very well it seems like some people are abusing it and are using it to make a lot of money.

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