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April 05, 2018, 11:41:51 PM |
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The 'onerous' nature of corp/gov crypt-currency regulatory and tax treatment sounds to me like one of those "it's not a bug, it's a feature." things.
Surely it would be obvious that the government and the international bankers who own the government are not going to bend over backward to 'foster the technology' and blah, blah, blah. They are almost certainly going to set all kinds of mousetraps...albeit with enough secret escape buttons to get their own asses out of trouble since a great deal of crypto activity is that class themselves playing around with it for fun and profit.
For my part, I'm fairly happy to have things be nebulous. As best I and my CPA can figure I owe long term capital gains tax when I have long term capital gains. Pretty simple actually. Since I never have though Bitcoin suitable for buying trinkets I've never used it for such duty, and a welcome side effect is that this simplifies my taxes. Now, if it turns out that LTCG was not appropriate, I'll file a claim against the IRS and probably never pay taxes again...in the unlikely event that I could win in court that is, and the banker class seems to own the courts as totally as they do our politicians.
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