submitted by /u/lopokoko
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source https://www.reddit.com/r/btc/comments/fh9wsi/this_is_going_to_be_a_great_history_lesson/
This blog brings you the best Cryptocurrency & Blockchain, ICO & P2P and Exchange & Laws news. Also contains technology and research based post from all around the world every single day. Get informed! Think Future!
Thursday, 12 March 2020
Is anybody fighting for the community to get crypto tax laws changed?
The government is taking your money and if someone challenges them IN COURT you might not have to give it to them.
'CRYPTO TO CRYPTO' trades are being taxed as if you sold from 'CRYPTO to FIAT to CRYPTO', except you actually didn't. You went from 'CRYPTO to CRYPTO. You don't pay the government when you change currencies at a currency exchange for example USD to CAD.
They treat it like you sold 'IBM stock for APPLE stock'. Which would be 'IBM to FIAT to APPLE'.
Is anybody working on behalf of the community?
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