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So if cryptocurrency is taxed on capital gains, and this is a stablecoin, can they buy their own currency in whatever tax haven they are storing money in now wi

by shiado 7y ago

So if cryptocurrency is taxed on capital gains, and this is a stablecoin, can they buy their own currency in whatever tax haven they are storing money in now with money they want to repatriate to the USA, then sell the coin in the USA and pay no taxes because it is a stablecoin to they didn't actually have any gains? And they do all this while controlling the cryptocurrency itself?

theodorton 7y ago
They wouldn't need to pay taxes because the money to purchase the financial instrument (whether it's a stock or a cryptocurrency) should already have been taxed in the country where the buyer resides. And, at least in my country, you can't use a financial trade like that to get a tax deduction. How would they afford to buy the cryptocurrency from the shell company in the first place?