Due to lack of any law, any speculation in cryptos i.e buying and then selling is considered as speculation and profits taxes similar to profits from stock trading in the short term/long term. This seems to be a easier way to calculate taxes on crypto trading profits.
From my reply to another commenter here.
"Only the income that is deposited into our bank account is taxable. Not our crypto holdings because of lack of regulations."
Due to lack of any law, any speculation in cryptos i.e buying and then selling is considered as speculation and profits taxes similar to profits from stock trading in the short term/long term. This seems to be a easier way to calculate taxes on crypto trading profits.
And any income from free airdrops?
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From my reply to another commenter here.
"Only the income that is deposited into our bank account is taxable. Not our crypto holdings because of lack of regulations."
This sounds very sensible Thanks
Posted using Partiko Android