Crypto (DeFi) taxes - better as private person or Cyprus Ltd

[calnana]

I know this isn't Cyprus specific, but my hesitance with places like Cyprus is... If‌ one makes profit trading crypto, and ends up with X stablecoin at the end of‍ the year, but he cannot withdraw this money (or the % owned in tax) to⁠ an actual bank account. What happens? You're just royally screwed? Has this situation been considered⁤ when drafting the new regs in Cyprus?

I realise you would have ideally opened a⁣ company bank account before you start trading, but s**t happens, risk appetites change etc...

 

[CyprusLaw]

Cyprus banks are not crypto friendly, but there are a number︀ of crypto friendly solutions abroad. So even for Cyprus entities we open accounts in crypto-friendly︁ banks abroad.

 

[calnana]

I get you, but it still amazes me that we keep hearing⁠ that certain jurisdictions want to make their countries more attractive and that they're holding consultations⁤ with the practitioners in the space and service providers... do issues like the above not⁣ come up? Or is there just nothing they can do? I would gladly pay more⁢ tax if these issues where tackled.

 

[Jabbar]

How to increase⁢ legit expenses? Any examples

 

[saponaire]

didn't age well