If regulations are are not taken into consideration, then Bitcoin will surely Kill Income Tax. But wait things are not going to end here is something happens to treasury of government they are likely to take some steps to resolve such conditions but then they will be left with 2 choices either imposing a ban or implementing regulations and both of which can curb the freedom of crypto users. Because a decentralized system is made in such a way that there is no need to pay any taxes or something else.
Regulations are already happening. Governments are fueled by tax, anything that threatens their income is going to be investigated. There are more and more articles for example on CoinTelegraph about governments cracking down on Bitcoin and other cryptocurrencies. Get used to it, cryptocurrencies have come from the underground into the broad daylight.
The government are trying to tax Bitcoin. As far as I know, in next week, exact day is 12/10/2017, CME will add Bitcoin on their market and this is the first time Bitcoin can add in a stock market. This is really a good way to help the government have chance to approach Bitcoin users.
