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That's like saying the euro isn't money because when you exchange it you dominate it in USD for taxes. Clearly this line of thought is flawed.
by hanniabu 5y ago
That's like saying the euro isn't money because when you exchange it you dominate it in USD for taxes. Clearly this line of thought is flawed.
- youeseh 5y agoCan you accept payment in Euro in the US and then pay taxes in Euro? I don't believe this is the case. As far as the IRS is concerned, everything that isn't USD is just another non-currency asset. So far Bitcoin is a currency in El Salvador. That means, you can presumably do commerce and pay taxes in Bitcoin over there. But, I highly doubt anyone selling goods and services for Bitcoin wants to then pay their taxes in said Bitcoin because of the expectation that it will be worth much more in the future.