Hi all - just wanted to know everyone's thoughts on the upcoming tax bill, that changes the loophole about not getting taxed for trades. Are you planning on investing mostly in anonymous cryptocurrency and holding or selling? What do you think the effect on the markets will be?
http://fortune.com/2017/12/21/bitcoin-tax/The article talks about US law so if you aren't in the US or aren't an American citizen then you are fine for the moment but this is something we knew was coming, and it's going to happen all over the world since every other investment is treated in the same way, if you buy bitcoin for 10k and sell it for 20k be prepared to pay tax on the capital gains you got.
It does talk about the USA but they generally are leaders when it comes to policy and influencing the rest of the world. Not saying everybody will follow suit but would not be surprised if that happened. And yes you should be prepared to pay but if the law does not explicitly say so don't expect people to come to you and pay their taxes.