I skimmed that taxation article and the reporting is not very clear on the structure/intent. Hopefully what they’re actually proposing isn’t a yearly offset but actually a minimum threshold for the need to report individual transactions. I’ve heard similar calls for action in the past particularly for use cases like CoinBase linked debit cards, etc. where you’re supposed to report capital gains when purchasing a cup of coffee! If that’s the case the $600 limit would be totally solid.
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Yes, I guess that makes sense, but they are going to need a lot more clarification before we get to that point. It's just funny because I feel like even the politicians who are pro crypto are just throwing darts at the board and seeing what sticks at this point.
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The politicians are completely insane.
They do not realize that their push to make most a criminal will end up causing further development of privacy features that they will have a tough time getting around.
My guess that is the next major area of focus by the geeks.
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