Trump worsened the position of the Crypto-currency

[DenisSley]

Trump worsened the position of the Crypto-currency

New US tax legislation covers a loophole for crypto currency. To avoid a short-term capital gains tax, some investors in the US used the exchange of crypto-currencies, which they called the "exchange 1031". Exchange under the section 1031 tax legislation was often used by real estate traders.

Tax authorities reached crypto-currency

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[bizul]

We are in a time where there are no boundaries. Pick an exchange overseas and do your trading. Trump can't ask them to hand over your transactions... unless there is some legal agreement between us and that country.

Before you choose an exchange, make sure to check the exchange owners, management, fees and especially their security. It is up to you if you feel they are authentic and secure. That is a lot of research if you are not into this field. Also, remember to search the exchange name in the news to see if they have been hacked and what was the public reaction.

The exchange I chose is supported by a bank so I know their security is tough. I think it is safe to keep my profit with them to avoid being taxed.
I just started trading about a month ago, what do I know anyway. I hope this helps you in some way.

[Sithara007]

This is a retarded move. Trade within different crypto-currencies is a very risky business and the government want to tax the profits at a rate of 39.6%. I have a very simple question. If the trader incurs a loss, will the government be willing to reimburse him 39.6% of the losses? This will only encourage traders to move their trades out of the United States.

[Sneginka111]

Trump worsened the position of the Crypto-currency

New US tax legislation covers a loophole for crypto currency. To avoid a short-term capital gains tax, some investors in the US used the exchange of crypto-currencies, which they called the "exchange 1031". Exchange under the section 1031 tax legislation was often used by real estate traders.

Tax authorities reached crypto-currency

I guess those americans who do not want to pay taxes will have to move their cryptos to exchanges based in other countries.

[mrtryonebiggums]

This is a retarded move. Trade within different crypto-currencies is a very risky business and the government want to tax the profits at a rate of 39.6%. I have a very simple question. If the trader incurs a loss, will the government be willing to reimburse him 39.6% of the losses? This will only encourage traders to move their trades out of the United States.

Asking the real questions this is what I would like to know. Sure they want to tax those who make money and that will be a small few but what about all those who lose on cryptos. Are they going to offer that tax rebate I truly wonder and I would lean towards no they won't or they will keep that aspect of the law mainly underground and unknown to the public.

[salamyman]

Trump is hard at work to find new ways to impale people, all the while having a lot of fun during the process.