๐จ Big News: Pakistan is Taking Steps Toward Adopting Crypto Legally! ๐ต๐ฐ๐ธ
Pakistan is finally setting the stage for legal adoption of crypto and forming a crypto council โ a major leap forward! ๐
But before we celebrate too hard, letโs talk about the real next challenge: TAXATION. ๐๐
โ If crypto becomes legal, thatโs great for innovation, startups, and tech enthusiasts.
โBUT... legality also means regulations, and yes โ TAXES will follow.
Hereโs what we should expect: ๐น Capital Gains Tax on crypto profits
๐น Withholding taxes on exchanges like Binance
๐น Reporting of large crypto transactions
๐น Possibly GST or service tax on transaction fees
๐น Strict KYC/AML for all users
So yeah, legality sounds good โ but traders need to be prepared. It wonโt be the tax-free wild west anymore. If you're a regular trader, youโll need to track profits/losses, maintain transaction history, and possibly even hire a tax advisor. ๐
๐ฌ What do you think? Is legal crypto with taxes still a win for Pakistan? Or will taxes ruin the game?
Share your thaughts in comments.