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RE: Poloniex requires all users to become verified in 2018

in #poloniex7 years ago

My guess is that with the new Tax Laws for 2018, Poloniex is watching their backs. Every Trade will now be taxable to the IRS. Even if someone transfers funds from say bitcoin on one exchange to Poloniex. If you had a gain then the IRS will know and you will have to pay on the profits. Every single trade or transfer with a gain TAXABLE. The IRS is going to rake it in. This will pretty much make life difficult to any day traders out there. Apparently the trader will have to give the dollar equivalent to the profits made on each trade as well. Less and Less privacy. By being verified means they will know who you are... Cheers Mates. Thanks for the Article. RESTEEMED.

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Poloniex is watching their backs

You betcha'.