Chinese on Bitcoin...

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3 years ago
Topics: Bitcoin

After rising, the price of crypto assets was corrected again. Ripple has experienced the deepest drop, more than 20%. Quoting Trading Economics, the following is the development of the prices of three major cryptocurrencies on Saturday (22/5/2021) at 13:17 WIB: Reuters did a search and found that Chinese nationals can still buy crypto assets and sell them through brokers like Binance. Payment can also be made in Chinese yuan via bank transfer. "If you have bitcoin or ethereum and I want to buy it, all I have to do is send money to you through the bank. Of course the bank has a risk-management system, if the transaction is too large it will definitely raise suspicion," said Li, a Chinese national, as quoted from the statement. Reuters. Not only China, the United States (US) will also be signaling the cryptocurrency trading. The administration of President Joseph 'Joe' Biden has a plan that sending cryptocurrencies worth more than US $ 10,000 must report to the Institute of State Revenue (IRS). To that end, the Biden government is ready to increase the number of IRS personnel. "As with cash transactions, parties who receive more than US $ 10,000 in crypto assets must report," said the US Treasury Department report. With this report, the government can calculate the potential taxes that can be reaped from trading crypto assets. According to the most conservative calculations, the state treasury is estimated to increase by at least US $ 700 billion (IDR 10,062.5 trillion).


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