Yes, that's why this is such a big deal and why the IMF and other countries are hammering on it. If this starts spreading to other countries governments might actually be forced to come up with a fair tax system. I'm not holding my breath on either count; lots more countries adopting it and a fair tax system.
Legal tender is like official currency of the country . Just like dollars in USA , Rupees in India.
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Thank you was my question too
The big thing is that being legal tender, there is no capital gains tax on it.
With crypto, you hold it, it goes up in value, you have to pay tax. Not so with currency.
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Ooh that's interesting. I didn't know about that detail.
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Good details
Yes, that's why this is such a big deal and why the IMF and other countries are hammering on it. If this starts spreading to other countries governments might actually be forced to come up with a fair tax system. I'm not holding my breath on either count; lots more countries adopting it and a fair tax system.
It's a start though...
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It's more like a currency. So shops can't avoid accepting BTC as a payment for their services or goods.
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Yes, it basically means that if someone owes you money and gives you an equivalent amount in BTC, the best is extinguished
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