Taxing unsold crypto isn't policy
For the better part of a decade, Washington has tried to force 21st-century financial technology into a tax code built for another era. The results are predictable: confusion, unnecessary compliance costs, arbitrary tax treatment, and a bureaucracy that makes ordinary people pay for Washington’s failure to keep pace.
TL;DR
- Washington's tax code is outdated for modern financial technology.
- Current regulations cause confusion, high compliance costs, and arbitrary tax treatment.
- Transactions like using bitcoin for purchases or moving digital assets can trigger tax events.
- Miners and stakers may be taxed on assets before they are sold.
- The current system hinders innovation and represents government interference.