Post
Topic
Board Economics
Re: Tax on the crypto currency! What do you think?
by
Aidan_Davis
on 11/08/2018, 20:00:51 UTC
It's obviously not possible to control cryptocurrency flows and therefore tax them accordingly, but they can easily track every single dollar/fiat/whatever currency that's collaborating with an exchange, then see how much fiat you spent in a single currency.

When you want to cash out to buy real state or something, you will need records of all of your trades and crypto accounting, so try to keep track of that. I have lost some of my history in trading due dead exchanges and now I'm worried about that. This has happened to a lot of people and I wonder what they did about it.
That's exactly what I was thinking. There's no way to control the flows. I'm not sure if it's actually that easy for them to track every dollar you exchange. I wonder what country your in. It seems to me that governments are scrambling to get some "control" over crypto, but it's not working for anybody yet. I don't think you should really worry so much about every little transaction. Who do you plan to show that to? Your tax agency? Maybe in the future you'll be able to just buy a house with crypto. They'll never know then.