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People who assume that are in for a rude awakening. The IRS has aggressively been going after records from cryptocurrency exchanges. Now maybe they’re using a D
by freeAgent 5y ago
People who assume that are in for a rude awakening. The IRS has aggressively been going after records from cryptocurrency exchanges. Now maybe they’re using a DEX or something, but at some point they’re going to have to spend the crypto natively (much of which is now KYCed) or convert to real USD. People who think they’re being clever are trapped.
- jonplackett 5y agoDo you mean even if people are just converting into USDT the IRS are going to be after them? FYI I'm just going on what I know friends are doing - no skin in the game! Just see this happening and don't see any other reason why anyone would buy Tether.
- xref 5y agoYes, any exchange of coins is a taxable event. Going BTC->USDT is the same to the IRS as going TSLA->AAPL. It’s a sell and a buy on the books.