Comment on SEC says it will deregulate cryptocurrencies with 'Project Crypto'

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neon_nova@lemmy.dbzer0.com ⁨2⁩ ⁨weeks⁩ ago

It’s not about avoiding taxes, it’s having to submit every single transaction you make in crypto on your tax forms. One year I had to manually compile hundreds of transactions. Only for the irs forms to show their of a net loss and no taxes needed to be paid.

I wasn’t using it as an investment, so I didn’t care about the loss, which was under $10 anyway.

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