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A comment on Coinbase Ordered to Turn Over Identities of 14,355 Crypto Traders to the IRS. Parent comment

Re:Coinbase Ordered to Turn Over Identities of 14,355 Crypto... by sockgrant on Thursday November 30, 2017 @01:46PM (#15818336)
Honest question: if I get paid in USD but then change all my money to British pounds, do I need to pay tax when British pounds increase in value and I trade back to USD?

Is this different than BTC?

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Re:Coinbase Ordered to Turn Over Identities of 14,355 Crypto... by maxander on Thursday November 30, 2017 @02:13PM (#15818587)
Indeed you would- trading on the foreign exchange market, as it's called, works much the same way as trading on the stock market. How taxes work for it are apparently specialized and complicated (see https://www.investopedia.com/articles/forex/09/forex-taxatio...), but you would definitely get taxed.
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Re:Coinbase Ordered to Turn Over Identities of 14,355 Crypto... by vkou on Thursday November 30, 2017 @02:10PM (#15818562)
Yes.

No.

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Re:Coinbase Ordered to Turn Over Identities of 14,355 Crypto... by s73ver_ on Thursday November 30, 2017 @02:47PM (#15818894)
Yes, you do.
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