3 ms·
Cryptocurrency can’t really get a fair shake at being legitimate until it’s treated by governments as currency, which means not taxing its capital gains. Crimi
by bradgessler 6y ago
Cryptocurrency can’t really get a fair shake at being legitimate until it’s treated by governments as currency, which means not taxing its capital gains.
Criminals don’t care about filing tax returns for digital assets, which is why we see them use it as currency. When you or I try to use it as a currency, we’d have to file a tax return if the value of it changes (at least in the US)
If we saw governments ease up on this a bit, we might see some interesting currency applications come if it, but I don’t see them letting go of that control.
- sonicggg 6y agoWho said governments don't tax capital gains for fiat currencies? Honestly, it's pretty much the same thing. Example : https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/personal-income/line-127-capital-gains/completing-schedule-3/bonds-debentures-promissory-notes-other-similar-properties/foreign-currencies.html https://www.canada.ca/en/revenue-agency/services/tax/individ...