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This is probably one of the first instances that will trigger congress to fix the tax laws for crypto. There will be many more. The current tax code is written
by Sargos 6y ago
This is probably one of the first instances that will trigger congress to fix the tax laws for crypto. There will be many more. The current tax code is written for corporate investors and foreign exchange traders, which have little bearing on game tokens, community tokens, and other use cases that will exist. These use cases are not going away and normal people are not going to suddenly file a few hundred pages of transactions on their capital gains forms just because they used some apps.
- Klonoar 6y agoI think that's a very optimistic outlook, but I'm not sure it fits with a realistic viewpoint that they're taxed that way because people treat them like stocks, not cash. At any rate, I would like to see Reddit acknowledge this.