New US Tax Code Makes Day Trading Cryptocurrency Problematic for Americans.
Unrealistic Expectations of taxation..
-US Legislators passed a tax reform bill in the US which will require crypto investors to tax every transaction regardless of the nature of the transaction. This means that US investors won't only be liable for taxation on withdrawing crypto from the market, or transferring for US dollars. Investors in the US will be charged for each transaction regardless of whether the transaction rendered profit in US dollars.
Will investors foot the bill or call the bluff?
-Will the new regulations on crypto trading cause US investors to withdraw from investing in the various industries of the crypto world? Could this government infringement cause a hindrance for technological developments? What if the majority of American investors decide to simply not pay??
Is this the burst of the bubble?
-With many investors being attracted to the previously unregulated status of crypto currency, could this be the "burst of the bubble" many major financial giants claimed was coming?
BETTER QUESTION
...has anyone read any of the 500 pages of the bill that will largely dictate our lives as Americans?
Let me know your thoughts. @darienparlick
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