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RE: BLOODY IMPORTANT QUESTION: should we consider STEEM-ENGINE tokens a security or utility?

in #blockchain5 years ago

Thank you for inviting me to this publication @crypto.piotr

However, should we pay any taxes if we wouldn’t cash out all those tokens to FIAT currency? I’m not really sure.

Considering the current law in Poland, I think we shouldn't. But the process of establishing a sensible law regulating the Blockchain Industry in our country is pretty unclear process, so this may change.

we would be receiving STEEM token, which is not a currency in the name of the law. STEEM is a utility token, so in theory receiving this kind of support shouldn’t be a problem. After all we wouldn’t receive any FIAT currency from our investors.

That makes sense, but ICO's were mainly receiving Ethereum, which is also not a currency from the law point of view, but there still were some problem with SEC and similar offices. Therefore, receiving a big amount of Steem may also cause problems.