The tax agency, for its part, has pointed out that only 802 Coinbase users filed a tax form related to bitcoin in 2015, which suggests large number of people have failed to declare capital gains related to bitcoin.
Capital gains tax on currency = bloody absurd.
Imagine the US dollar going through deflation for a year and the value of the US Dollar goes up - any CGT?
It's a good job I'm not an American.
if you trade the us dollar against another currency at a brokerage then yes, you would pay taxes in your example. I don't think it's the capital gains rate however