Crypto & taxes.

Cryptocurrency trading and operations can be profitable, but make sure you are prepared to meet with the tax officer. Investing in digital assets opens up many opportunities, but when the tax inspector comes in, you better be prepared.

As the price of Bitcoin (BTC) is constantly rising and changing, and investors are using cryptocurrency to make money. Therefore, legislators and regulators around the world are paying attention to this.

It's hard to say why bitcoin is classified differently than fiat currencies. But the IRS (US Internal Revenue Service) recognizes Bitcoin as a property asset because it is investment value, and not as a functional currency like the fiat US dollar does. And since these asset types are not issued by the central bank, the US government will not recognize them as such until further notice.

When the tax inspector comes in, it's better to play it safe than to regret later. After all, the consequences can be much more serious. Friends, carefully study the legislation of your country regarding cryptocurrencies and taxes.

Well, if you are interested in using the endless possibilities of Banxe, then stay tuned! New discovery is cooooming!