Why Capital Gains Tax does NOT work for Cryptocurrency

We are off to a bad start when the ATO gets the basics wrong… [1]

Spending your crypto to purchase items

Little help from the tax department and accountants run for the hills at the sound of Bitcoin

Crypto to Crypto transactions using an exchange

Stable coins are treated all the same

Crypto to crypto transactions on a DEX

Airdrops, a potentially unintended taxable event

Indeed. [2]

Transaction fees for the network

transaction gas fees are also a taxable event… [3]

Converting your ether into L2 ether or side chains

Using dApps on Ethereum, a compliance nightmare

Ouch [4]

If Crypto fulfils its potential, the capital gains tax on Cryptocurrency will have to be abolished

Some alternative solutions to the capital gains tax

No capital gains on base cryptocurrencies

Wealth tax on cryptocurrencies

Only tax crypto to fiat transactions

Why I am optimistic that reform will come

Good advice for everyone, especially government…

Photo references

Cool resources

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Ethereum developer

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James Sangalli

James Sangalli

Ethereum developer

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