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RE: The MASSIVE Tether Ticking Time BOMB

in #cryptocurrency • 7 years ago (edited)

Have used bit.USD with great success in the past. Though I am now no longer as adverse to using USD since if you are playing by the rules you are paying taxes on every trade.

7 years ago in #cryptocurrency by
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     7 years ago 

    How can the goverment react to those trades? I mean what are the possibilites? Wouldn't they tax them us as usual trades?

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       7 years ago 

      They do tax crypto trades as usual trades (non-crypto), as of 2018.. sort of. Non-crypto trades involve USD for U.S citizen (typically). Meaning when you sell something you are taxed on it. Now whenever you make a crypto-crypto trade you owe taxes on gains. So even trading in and out of bitcoin you owe.

      Before 2018 the allure of tether was that you were only taxed on crypto fiat trades.

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