2025-12-31 04:21:00

Looking at the preferential tax policies for domestic exchanges, a question arises: could they actually be having the opposite effect?

As a result of aiming for industry-friendly tax regulations, the system has become more complicated, paradoxically raising the barriers to entry. Many users become discouraged by this complexity and ultimately stay away from trading.

In such cases, it becomes more straightforward and efficient to buy BTC spot ETFs through securities companies rather than purchasing wide-spread BTC on domestic exchanges. The complexity of the tax system is inadvertently accelerating the shift toward financial products offered by major securities firms.

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GasWrangler

· 9h ago

honestly the tax framework complexity is just shooting itself in the foot... you'd think they'd optimize for adoption but instead they're literally pushing users toward tradfi etfs lmao

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LiquidationWatcher

· 01-01 08:10

It's really ironic that tax incentives end up becoming barriers to entry. In the end, everyone just escapes to ETFs.

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WalletManager

· 01-01 02:29

This policy design is really outrageous. I initially wanted to support it, but it ended up pushing retail investors to the banks. I didn't see that coming. --- To put it simply, it's over-engineered. When the participation cost is too high, everyone is too lazy to bother, and it's easier to just buy ETFs. --- Has no one thought about the logic that the more complex the tax system, the higher the threshold? As a result, it backfires and benefits traditional financial institutions. --- Now, I can see from continuously tracking on-chain data that on-chain activity is declining, and large funds are migrating to ETFs. --- Instead of being bound by complex tax policies, it's better to self-custody and diversify risks. Holding the private keys yourself is more reassuring. --- Ironically, the more you try to protect, the more you push people away. Over the years, I've seen too many policies like this that force self-service.

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MeltdownSurvivalist

· 2025-12-31 22:18

The increasing complexity of the tax system is ironically causing people to flow to securities firms, which is a classic case of missing the forest for the trees. Industry protection is choking itself.

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StakeHouseDirector

· 2025-12-31 04:43

The tax system is so complicated that it actually drives people away—this is seriously counterproductive.

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bridge_anxiety