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Charitable giving with crypto is just getting off the ground As tax considerations with crypto are just getting off the ground So you basically have this wide

Charitable giving with crypto is just getting off the ground As tax considerations with crypto are just getting off the ground So you basically have this wide polar extreme of: A) People using crypto and thinking there are no taxes B) And entrepreneurs moving their premines to their own non-profits for massive tax breaks and exemption leaving existing non-profits just waiting People in A) move slightly towards the center year over year as reality catches up to them and more become loaded with appreciated assets or just have an inventory of crypto at all times People close to B) are also loaded with assets and more likely to contribute to other non profits Its better for a non profit to keep the door open and have the payment rails available. Large contributions could happen at any time. At the end of the day, money talks, pretty much all non profits figure it out when a donor wants to donate any large asset, including in crypto

timerol 5y ago
> As tax considerations with crypto are just getting off the ground This is very not true. Buying and selling anything has very clear tax implications. It's more that enforcement is slow, and people are willingly breaking the law because of it. Here's a good Twitter conversation explaining the situation: https://twitter.com/patio11/status/1501707876888240131 https://twitter.com/patio11/status/1501707876888240131 > I think the issue is mostly that the industry’s core request is “Can we have an outright exemption from securities regulation?”, the regulators say “Absolutely not you must follow the law.”, industry follows with “How high is this on your enforcement priority list?”, “Not very.” > And so industry complains “My my this all seems so ambiguous and look at all these similar projects which never get enforcement actions. I wish we had Regulatory Clarity (TM).”
- vmception 5y ago
  > This is very not true. Buying and selling anything has very clear tax implications. I was saying that crypto users willing to consider tax and more complex tax is just getting off the ground, not that the law itself ever ignored them I think the rest of my post makes that clear > People in A) move slightly towards the center year over year as reality catches up to them (the reality that tax always applied) but I can see how it doesn't, especially if you are expecting a crypto tax / regulation protestor

timerol 5y ago

> As tax considerations with crypto are just getting off the ground This is very not true. Buying and selling anything has very clear tax implications. It's more that enforcement is slow, and people are willingly breaking the law because of it. Here's a good Twitter conversation explaining the situation: https://twitter.com/patio11/status/1501707876888240131 https://twitter.com/patio11/status/1501707876888240131 > I think the issue is mostly that the industry’s core request is “Can we have an outright exemption from securities regulation?”, the regulators say “Absolutely not you must follow the law.”, industry follows with “How high is this on your enforcement priority list?”, “Not very.” > And so industry complains “My my this all seems so ambiguous and look at all these similar projects which never get enforcement actions. I wish we had Regulatory Clarity (TM).”

vmception 5y ago
> This is very not true. Buying and selling anything has very clear tax implications. I was saying that crypto users willing to consider tax and more complex tax is just getting off the ground, not that the law itself ever ignored them I think the rest of my post makes that clear > People in A) move slightly towards the center year over year as reality catches up to them (the reality that tax always applied) but I can see how it doesn't, especially if you are expecting a crypto tax / regulation protestor