Well done to all involved 
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This looks pretty official to me, even if it’s just a link to another thread.
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Congratulations for this achievement!
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There have been questions regarding possible tax liability due to the MAID/eMAID conversion process, and of course this very much depends on what tax jurisdiction you are in.
I can give an informed personal opinion regarding New Zealand, due to my extensive experience with the New Zealand IRD, with regards to my bitcoin holdings. It’s likely that similar countries - the UK and Australia - have similar tax rulings regards crypto.
What I learned from this “taxing” experience was that any “disposal” of a crypto asset was a taxable event - which includes selling for fiat, trading for another crypto, spending and gifting.
When considering the conversion of Omni MAID to eMAID, one thing seems clear to me, that it is not “disposal” at all. What is happening is simply the transfer of a specific crypto (MAID) from one technically-defined platform to another.
In both cases MAID and eMAID maintain all their essential characteristics - same price, same total supply, and same convertibility to the Safe Token in the future.
I believe that proceeding with this conversion is not a taxable “disposal” of MAID as per the NZ IRD rules.
Of course, this would need to be confirmed by such tax authorities as they can be quite arbitrary, but there’s a good case for no tax liability in New Zealand at least.
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@Sotros25 Quick question I have after looking at MaidSafeCoin (eMAID) Token Tracker | Etherscan
I notice on there that it seems to saying that eMAID has 18 decimal places.
Omni MAID was set up with no decimals on the Omni protocol and the 1:1 swap will be straight forward with 1 SNT per MAID. Is the swap using eMAID to include decimals and will SNT have 18 decimals or 9 or ???. If SNT has less than 18 decimal places then I see an issue due to rounding, if SNT has 18 or more places then no issue.
When the swap to SNT happens, what is the official word on the 1:1 swap and 18 decimal places?
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This to my mind is one of the all important factors, in the uk at least.
And they are very unlikely to do so, they are independent coins on independent markets with a independent price.
Even if the price were matched at one pont, would they stay matched precisely for long enough for you to dispose of x no of coin ? Probably not imo. ( the odds are really against it )
So , yeah i think that should change the sentiment to your statement and possibly your tax implication.
If its not taxable in the uk ill be very surprised.
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I don’t see how the price could vary that much, as that would represent an arbitrage opportunity that would likely equalise the price again.
Even if there was a price difference, it would be relatively minor and entail a much smaller tax obligation than paying it on any capital gains on the original MAID since first purchased.
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I cant spk for nz, i cant even spk for uk, just give an opinion.
But the price could vary massively, we dont know.
The order books are bound not to match up and down .
I doubt the uk gov will care if they are close priced.
I cant be sure, but id bet theyll see it as a disposal and rebuy.
So the fact theyre close is irrelevant, youll owe on gained profit , or able to claim loss.
Thats how it works if i buy and sell omni maid, the exact same asset, why would another version of the same thing on a diff protocol be different.
Forced conversion might be different, but this isnt forced.
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Thx, all . Does the Made Safe Coin continue to use the Omni Network on Btrrex and hitBTC exchanges?
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Yes all still working.
If you have coin on an exchange, id watch closely though.
Last thing we want is a delist and ppl losing coin
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I think the biggest issue here is that its possible for Tax departments to see the conversion as the same as a sell/disposal of one asset with its own market on exchanges and then a buy/acquisition of another asset with a separate market.
This causes the reporting of price at time of disposal less price at acquisition for MAID on (Omni) MAID markets and tax to be levied on the result.
Then the acquisition of eMAID on its own market is a separate ongoing investment, and tax is levied on that when eMAID is disposed. (Maybe in a year or two)
My understanding of our local tax rulings is that this is a possible interpretation by them.
Disclaimer: I am not a tax expert, but have written programs for accountants to do tax assessments in years past (way before crypto).
Also this is more a possible explanation of why people are suggesting a possible tax event may happen
I am not going to be doing this so it doesn’t affect me either way
EDIT: The tax departments would claim it doesn’t make any difference, but they want the tax when its due (IE early as possible). Their claims would be along the lines
- buy/sell of Omni.MAID realises profits for one stage (EG $0.10 to $0.30, 20 cents profit) then
- buy/sell of eMAID realises profits for next stage (EG $0.30 to $1.50, $1.20 profit)
- their claim would be this is equivalent to the person as profits $0.10 to $1.50, but the taxman receives a portion of the tax at the time the event occurred.
But for the person this means they pay tax without having taken fiat profits. This happens with other trading as well.
This is where a good tax accountant will describe it in a way that does not involve disposal at all and thus no tax event.
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When you find this accountant, hook me up, i need them 
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My understanding is the swap is 1:1. I’m tagging @SwissPrivateBanker to provide a more technical answer here though.
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In worst case scenario it will be rounded down, so you have less than 1 MAID of dust. Not that that should be the case, but just pointing out that right now it is pretty insignificant loss if that were to be the case.
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The 1:1 swap works fine if the Safe network recognises 18 or more decimals since 0.123456789123456789 eMAID will 1:1 exchange for 0.123456789123456789 SNT
The only issues is if SNT is less than 18 decimals. So lets say SNT is 8 decimal places then in the example above the exchange results in 0.12345678 OR 0.12345679 SNT. Either way there is a tiny amount that would add up if a lot of exchanges to be done.
My question is not so much it being a major issue, but what the official word/statement is on this so there are no issues come exchange time and everyone knows the situation.
True, more a question on the official statement about it. Forewarned means no disappointments or criticisms by some jerk.
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Amazing work here. I guess there is no general Maidsafe update regarding the Safe Network to really jumpstart the mood, beyond following the Thursday updates. What I mean is it should already be exciting to start trading much more with more people via the peak accessibility that this brings, alongside that it would be more exciting if say, like DBC, or Something(s) like that, is advertised in some way; not even really to “pump the price” or anything but rather spread awareness to new people that gives them a fuller meaning to get on board. Just like a status update on the whole project in conjunction with eMaid. Like a “2014 Crowdsale version 2 / model 2022 (now without the slightly disastrous scenario!)”.
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It’s my understanding Poloniex still holds a decent amount of MAID, is that true? Is anything being done to stop them from cashing that out for eMAID if they have awareness of this project? Not sure if the Maidsafe team ever spoke on blacklisting coins, or not, if shady exchanges try to steal them.
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How can we know which coins were not claimed and left on the exchange, which coins were gained fairly from withdrawl fees and trading comissions.
Which coins ppl just abandoned as they wouldnt complete kyc?
I dont think we can tell, i think they must all be honoured personally.
If they still have them, they havent bothered cashing out for btc, not sure why they would suddenly cash out now just because theres going to be a different route to do so.
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Now that MAID is ERC20 compliant, how do we set up a liquidity pool so we can trade it? 
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