Tax-Free Bitcoin-To-Ether Trading in US to End Under GOP Plan
1–10 of 194 posts
Re: Tax-Free Bitcoin-To-Ether Trading in US to End Under GOP Plan
#2So, this and the SECs recent decisions are the point when the US gets left behind on the next major advancement of technology.
An almost fricitionless, ubiquitous, audit-able marketplace. well, except for monero and zcash.
Re: Tax-Free Bitcoin-To-Ether Trading in US to End Under GOP Plan
#3Probably good news for investors long term. Bitcoin again continues to grow up and be treated as an equal to bonds, stocks, etc.
If you are a holder, or HODL as the kids say, then you get the benefit of long term rates, if you are a short term trader then you pay the short term capital gains rates, just like any other currency/commodity. trade.
Concrete rules will bring in more conservative money.
This was the last loop hole that some people were concerned about wrt to taxes and virtual currency trading.
Re: Tax-Free Bitcoin-To-Ether Trading in US to End Under GOP Plan
#4IIRC like-kind treatment was never made available, with the new tax plan or without.
Re: Tax-Free Bitcoin-To-Ether Trading in US to End Under GOP Plan
#5There is another loophole that's just as good. Wash sale rules don't apply to crypto, yet.
Re: Tax-Free Bitcoin-To-Ether Trading in US to End Under GOP Plan
#6[deleted]
Re: Tax-Free Bitcoin-To-Ether Trading in US to End Under GOP Plan
#7How would they enforce this in any way at all?
Re: Tax-Free Bitcoin-To-Ether Trading in US to End Under GOP Plan
#8How would they enforce this in any way at all?
Know Your Customer, requiring exchanges to provide the necessary data, etc.
Re: Tax-Free Bitcoin-To-Ether Trading in US to End Under GOP Plan
#9Re: Tax-Free Bitcoin-To-Ether Trading in US to End Under GOP Plan
#10Isnt this kind of thing against the bitcoin philosophy? I thought bitcoin was meant to be free of these sorts of issues.