I agree with you that it should not be taxable until you convert it into fiat. Until then, I don't really think it is really something for the governments to get concerned with. However I guess it becomes a little more of a gray zone when you start paying and receiving crypto as payments. So I don't know the correct answer.
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Nobody really has a correct answer. That's why it will be interesting to see the outcome of this lawsuit in the courts without any settlements.