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In my country, there is a monthly exemption of $6k over capital gains. That is, you only pay taxes if your gains are above 6k at the moment you transacted it. T
by rafaelero 4y ago
In my country, there is a monthly exemption of $6k over capital gains. That is, you only pay taxes if your gains are above 6k at the moment you transacted it. That allows us to use Bitcoin for minor purchases without having to face legal problems. It's stupid how laws in the US require even buying a coffee with Bitcoin to be audited.
- StanislavPetrov 4y agoThis is a feature not a bug. The US government is making it as tedious and difficult as possible to comply with all of the byzantine regulations and complicated tax reporting that go along with using crypto.
- ETH_start 4y agoGenerally using the state's apparatus of coercion (the courts, police and prisons that compel compliance with state edicts) to prevent people from partaking in an entirely voluntary interaction is considered a bad thing, i.e. a bug, but I guess this is the edgy totalitarian-esque anti-crypto take.