The seed that will eliminate taxation on crypto by santigs

hive-167922 · @santigs · Sep 14 '21

$3.95

The seed that will eliminate taxation on crypto

![image.png](https://images.hive.blog/DQmTnXfKcwS8rEzdjma1hzJJisK1JVfDjmmMakisRz3J1cx/image.png)



Back in 2015 Bitcoin lightning network was proposed and launched as a beta in 2018. A few thought back then this would be the beginning of a huge change which wrote its second page on September 7th, when El Salvador became the first state nation adopting bitcoin as a legal currency in the country.

![image.png](https://images.hive.blog/DQmS7CE7Gz7bxTyzdd5DWxAqJXBMV5DKL7MhmQVzLBas1UZ/image.png)

The lightning network now houses over 2,400 BTC in more than 73,000 channels, the first day the system was launched in El Salvador saw almost 2,000 new channels opened and 100 additional bitcoin stored in them.

![image.png](https://images.hive.blog/DQmcJJvibtchvx72piU9QrbtAYKdFwXxcN8gi6tTvnh4BjV/image.png)

But as interesting as this may be as it is the first country to adopt crypto, many people have not yet realized what this means for the world, not just for Salvadorians. Only a few days ago a new study mentioned the millions of dollars in remittance services like those offered by Western Union will be saved as Salvadorian immigrants will stop using those services to directly send Bitcoin instead. [CNBC News](https://www.cnbc.com/2021/09/09/el-salvador-bitcoin-move-could-cost-western-union-400-million-a-year.html)

72 hours after bitcoin officially became a legal tender, a government advisor for the Central American country revealed it will exempt foreign investors from paying taxes on Bitcoin profits, both on capital gains and income in bitcoin. With this move, El Salvador hopes to encourage foreign investment, according to Javier Argueta, legal advisor to President Nayib Bukele.

This opens the door for huge capital moves to the country, from those millionaires not happy having to pay crypto taxes in their countries from capital gains.  Soon other nation-states will emulate what El Salvador has done to attract capital. 

As occidental countries start seeing how their crypto wealth leaves not happy with the taxation systems they have implemented they will end up changing them and all fiscal laws will end up being redefined.

We are witnessing not only the change of the financial traditional system but also the fiscal ones.

[Source](https://www.france24.com/en/live-news/20210910-foreign-investors-exempt-from-tax-on-bitcoin-profits-el-salvador)


Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@santigs/the-seed-that-will-eliminate-taxation-on-crypto)

👍 steemcleaners, preparedwombat, trasto, logic, onealfa.leo, josepgs, enricgr, toofasteddie, r0nd0n, softworld, uwelang, contrabourdon, votehero, maxuve, luppers, blainjones, fatman, omarcitorojas, webdeals, he-index, scooter77, dibblers.dabs, elianaicgomes, cbridges573, bastionpm, whiskeyjack1231, hykss, shebe, ctpsb.cut, luckyali.leo, livingdigitally, siirif, leovoter, francis.melville, javb, localgrower, enison1, joseph23, mk-leo-token, haxxdump

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properties (23)vote details (40)

voter	rshares	pct
webdeals	6,660,708,856	35%
logic	266,319,278,423	100%
uwelang	23,160,611,200	3.5%
steemcleaners	1,615,721,380,332	60%
r0nd0n	70,663,943,088	26.25%
preparedwombat	372,843,098,961	42%
scooter77	4,631,595,995	10.5%
toofasteddie	202,382,862,913	38%
shebe	1,282,240,396	8%
francis.melville	750,092,507	35%
fatman	8,107,531,678	2%
votehero	15,833,631,118	4%
blainjones	9,910,027,071	5%
luppers	13,333,220,924	17.5%
contrabourdon	17,664,492,221	17.5%
haxxdump	118,753,114	10%
leovoter	764,665,476	26.25%
onealfa.leo	264,018,413,048	35%
bastionpm	1,893,914,957	35%
elianaicgomes	3,370,542,830	5%
mk-leo-token	197,163,049	100%
maxuve	15,796,840,040	2.7%
enison1	468,916,978	100%
javb	730,478,853	17.5%
softworld	36,520,664,666	100%
localgrower	625,973,804	17.5%
enricgr	236,148,183,526	100%
josepgs	245,553,332,329	100%
whiskeyjack1231	1,701,433,125	100%
omarcitorojas	7,772,943,606	15%
siirif	881,072,242	100%
he-index	5,036,105,307	10%
hykss	1,686,271,016	3.5%
livingdigitally	1,013,709,125	17.5%
ctpsb.cut	1,266,167,591	10%
cbridges573	2,527,342,251	8%
luckyali.leo	1,018,510,342	35%
joseph23	222,069,229	12%
dibblers.dabs	3,457,234,735	5.25%
trasto	310,563,439,055	35%