Quote from: Hola Penio on Today at 05:44:35 PM

Quote from: Hispo on March 30, 2023, 01:32:29 AM

That was unexpected, quite high considering this is rather a new kind of asset.
On the other hand I find amusing that people at the IRS is willing to tax literally anything that has liquidity. In the early days on Bitcoin, I assume they were laughing at the idea of it becoming an actual currency or being accepted to some extend as a tool to transfer value in a decentralized way.

As soon as liquidity, adoption and volume increased, they had stop the laughter and move onto taxing.

Quote from: franky1 on March 29, 2023, 11:39:42 PM

imagine it

paying tax on ingame purchases.. turns Steam into tax reporting agents of its customers rather than games retailers

so soon you wont be able to play online games without KYC

How things are going, it should not be a surprise Steam and Epic Games would ask for full KYC in a decade or earlier.
But it would make more sense it was related to MMORPG's where people can partake in a secondary market of in-game currency, which gains are (of course) taxable.

Yes, that does make sense in this kind of thing. Certainly more than taxing Steam and Epic Games

Well, if somehow Steam or Epic launched a NFT game and players started to profit somehow out the in-game transactions, those who are making profit are the players and neither the distributor or the developers of the game, so the government cannot realistically tax Steam or Epic as distributors, because there is not profit coming from the game for them for declare, besides of course that they get from the royalties and micro-transactions.