The influence of digital currency on Taxation

1.

If it is legal tender, then it has no effect. For example, the non legal tender issued by the central bank is regarded as a financial asset. It has little impact on the tax system

it has a subversive potential impact on accounting practice. Those who try to cheat on tax should be careful. In theory, you can analyze those evasive behaviors that you have done at almost zero cost

if digital currency is widely accepted and can play the role of currency, it will weaken the effectiveness of monetary policy and bring difficulties to policy-making. Because digital currency issuers are usually unregulated third parties, money is created outside the banking system, and the amount of circulation depends entirely on the wishes of the issuers. As a result, the money supply is unstable. In addition, the authorities are unable to monitor the issuance and circulation of digital currency, which leads to the inability to accurately judge the economic operation and brings trouble to policy-making, At the same time, it will weaken the effectiveness of policy transmission and implementation

extended data

various bill market businesses based on commercial bills are growing rapidly, and bill financing procts have become a hot field of Internet financing. However, about 70% of the current domestic bill business is still paper transactions, and supply chain finance also relies heavily on labor costs

in the future, if we realize the digital monetization of bills and adopt the blockchain transaction, we will make the bills, funds, financial planning and other related information more transparent. With the help of intelligent contract, we can generate an unforgeable, open and unique electronic contract between the borrower and the borrower, and directly realize the point-to-point value transfer, without the need for specific physical bills or central system for control and verification, It can prevent selling more than one vote, track the flow of funds in time, protect the rights of investors and rece the cost of regulators

2. The future world will be a digital world, and money will develop from paper money in the past to digital money in the future, which is a trend. Because in order to adapt to the digital world, the future currency must also be digital. It can be predicted that digital currency will be safer, faster and more convenient in the future
many procts of blockchain technology are not currency, although they are called currency. Under the guise of digital currency investment, it is a Ponzi scheme. Even some of them don't even have blockchain technology, which is just a fake number to cheat people.

3. To a certain extent. In fact, there is no such thing as legality or illegality in digital currency, only the degree of support from the state. Because even if it is defined as illegal, because of the decentralization of bitcoin and the anonymity of transactions, no institution can hold the traders responsible. When the government starts to collect taxes and realizes the tax dividend brought by virtual currency, the central government will directly recognize its legitimacy and regulate it, just like today's stock market trading. At present, the number of domestic exchanges that can log in for trading is also increasing, such as Qube and okex, and their trading types are also expanding rapidly.

4. Up to now, the state does not recognize the legality of any digital currency at all, and the domestic digital exchange is also illegal, so there is no problem of paying personal income tax at all. Be careful of being cheated.

5. What is the impact of setting currency on the accounting instry? First of all, setting up the emergence of currency, let's have a clear effect on the systematicness, convenience and purpose of the whole currency