Well the United States will tax any money you earn from anything, anywhere. I think America considers it the same as Canada, which is a capital gain. You would treat your earnings once you sell your coins as a capital gain and must report your earnings to pay taxes.
Yes for sure, it comes down to personal opinion. However the IRS is one of the strongest and most powerful forces in this world, tax evasion is highly illegal and will get you jail time. But for now it is hard to tract or prove, with traditional investments the exchanges and companies themselves send the government information. I think exchanges will be regulated soon to make sure taxes are being paid, and ICO's are regulated properly. Overall a good thing for attracting more people to the market.
Well the United States will tax any money you earn from anything, anywhere. I think America considers it the same as Canada, which is a capital gain. You would treat your earnings once you sell your coins as a capital gain and must report your earnings to pay taxes.
its basically on you to claim those earnings though.
Yes for sure, it comes down to personal opinion. However the IRS is one of the strongest and most powerful forces in this world, tax evasion is highly illegal and will get you jail time. But for now it is hard to tract or prove, with traditional investments the exchanges and companies themselves send the government information. I think exchanges will be regulated soon to make sure taxes are being paid, and ICO's are regulated properly. Overall a good thing for attracting more people to the market.