Ok this is something that hits us all but when it comes to cryptocurrency there is a allot of uncertainty about how taxes will be enforced. There has been some news about different U.S. dollar amounts such as $10,000 at which taxes will be enforced or a certain amount of bitcoins traded such as 1 bitcoin at which taxes will apply. The majority of the news is based around cashing out on exchanges such as coinbase.
Based on what you have learned what do you think is the most likely scenario when it comes to cryptocurrency taxes in the U.S.?
Or comment on when do you think this will be clarified by the governing bodies?
Since I am not a US citizen I can't tell something about enforcing taxes to like a value of $10,000 per trade. All I can say is that here in my country taxes might be enforced everytime we made a cashout through local exchanges as it was regulated by the central bank. I think it is now hard to evade taxation due to KYC/AML implemented by governments to counter fraud and illegal activities in a country.