There is an option for citizens to launch a company (not expensive nowadays) and buy/sell bitcoin on your company balance sheet. I think that this is what Michael Saylor does too. If your company has realized profits by selling, no matter if this is from revenue or from bitcoin, these realized profits are taxed at a 20% rate. Which is not low tax, but not as disastrous as the 50% income tax for the normal working class.
At this point I am in doubt whether I should set up a company and register all my crypto holdings with the IRS, or keep DeFi away from CeFi and never convert crypto to fiat. Converting to other coins, like stablecoins, is also a taxable event. But at least there are ways to keep stablecoins in a hardware wallet out of reach from tax authorities.
I’m still wondering why an entity which presumably would be earning more would have to pay less tax in about 20% as opposed to individuals that would have to pay up to 50% on their profits from cryptocurrency investments.
Having to register a company might seem like it but, what if this is a trap? What if they just want to get enough registry and then, they go ahead to increase the rate. What happens then?
Mind you, any undeclared profit from crypto then would be breaking the law and they might find means to watch what goes into the company for diversions.