Post
Topic
Board Bitcoin Discussion
Re: Bitcoin on a company balance sheet. Bad idea?
by
WeThePe0ple
on 17/07/2025, 19:39:43 UTC

Your country taxes crypto transactions? Are you sure? I think perhaps you might have misunderstood something because I cannot imagine transactions having any kind of taxable event. A trade between different coins is taxable, sure. Receiving crypto as a reward/income, yes. Withdrawing for fiat, taxable. Even using crypto for purchasing a service/good, yes. But not a transaction. What country are you from, if you do not mind divulging that information here?

If I was living in such a dictatorship that taxes you when you move money from one wallet to another, I would definitely keep it a secret from the government. In fact, I would never move my crypto anywhere and keep it in my personal, private wallet that nobody but me knows about.

Since you keep saying IRS, I assume you are in the USA? In which case, transactions (moving from one wallet to another) are not taxed.


A trade for a different crypto currency (such as USDT) is seen as purchasing that other token, which is a transaction.
Buying a golden necklace for your wife on november 7th of 2025. They want to know when you bought the BTC (let's say in 2021), calculate the price difference and tax you for it, on top of the BTC value of that necklace. First of all that requires loads of work for each purchase (calculating it, let alone declaring the difference and paying it) and secondly they couldn't even do it if they wanted to.

If Albert is a drug kingpin with 120 BTC and he wants to buy a golden bar from his jeweler for 1 BTC, it's not up to the jeweler to find out if the BTC he received was clean. For what price Albert bought it and how much tax Albert owes to the government. Albert probably used a mixer, or Monero to erase these traces. But that doesn't mean he can't buy the golden necklace with BTC.

I'm not sure what you consider as a transaction. I mean swapping and purchasing goods and services.
Moving from one wallet to another I do not consider a transaction. That is a transfer.