Germany and France say that they are worried because of the volatility of Bitcoin and want global regulation at the G20 meeting in march.
For sure the regulation has to be global to be effective. If not some countries would become Hong Kong and the rest the Soviet Union, as all the business would go to the country which is the most free nation in this regard. So everybody has to have the same opportunities (in this case no opportunity). If everybody is Soviet Union, there is no way to avoid it and to prosper.
Also they want to equalize taxes in the European Union. Surely they will not agree to lower taxes in the high tax countries, but to raise taxes in the remaining low tax countries, so that there is no competition anymore. In the end high (70%+ taxes will have to be established globally, not only in G20 countries).
Nice.... this move is nothing new though. In the last 100 years taxes have risen from 4% income tax and no social security costs to 70%+ taxes in the last few years. If there are countries left where taxes are considerably lower this would make such a tax rate impossible, as producers would be incentivized to leave high tax countries and move to freer low tax countries.
Curious that the slaves 300 years ago who were paying 10% to their masters were considered as such, but people today paying 70%+ are considered to be free....
