Starting 2018 all crypto transactions are taxable events. How would this affects cryptocurrencies markets?

in cryptocurrency •  5 years ago  (edited)

irs bit.jpg

It is yet to be seen how the new tax bill will hit the crypto exchanges. As of the new year all crypto exchanges are to be considered as taxable events. It might reduce the speculations and the volatility out there thus bringing and attracting more investors. Or it could crash the whole crypto as we know it.
What do you think will happen?
Comment below please.

tax crypto.png
Please resteem and up vote before you check out the Source

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Hmmmmm. that is concerning. I have always thought.. if paying taxes on profits is of concern for u, then that's a great problem to have! :P im following u and upvoted now.

It might reduce the speculations and the volatility out there thus bringing and attracting more investors. Or it could crash the whole crypto as we know it.

I really wonder how a cost basis will be determined for those who mine coins...

  ·  5 years ago (edited)

That is their problem to solve. our problem is to avoid another panic crash.