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It's also not immediately obvious to the uninitiated what should happen when you swap one asset for another, like when you trade DOGE for BTC. Or trade between
by wongarsu 11mo ago
It's also not immediately obvious to the uninitiated what should happen when you swap one asset for another, like when you trade DOGE for BTC. Or trade between BTC and a stablecoin, if you feel clever and think this avoids triggering capital gains.
Imho it's all just forex trading, but ask 3 tax authorities and you get at least 4 opinions so you really have to know the local rules
- vkou 11mo ago> It's also not immediately obvious to the uninitiated what should happen when you swap one asset for another, like when you trade DOGE for BTC. When I swap between MSFT and AAPL, I trigger capital gains, because sale of one realizes my (formerly paper) gain or loss. Why should crypto be privileged? Why should people who don't even understand how traditional investments work, and are speculatively trading in a novel instrument get to cite ignorance as an excuse?