MasterCard to open up network to cryptocurrencies

Re:MasterCard to open up network to cryptocurrencies by martamorena923 on Thursday February 11, 2021 @01:52PM (#26105583)

OMG in what country do you live? 15%??? We have to pay 50% on this in Canada, well at least the ones who are in the top earning bracket.

I would gladly pay the 15%. I mean how greedy is it to make these kind of gains in crypto and then trying to avoid a measly 15% of tax lol.

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Re:MasterCard to open up network to cryptocurrencies by xsmasher on Thursday February 11, 2021 @02:43PM (#26106144)

Are you sure you pay 50% in tax on the profits? A quick google suggests that 50% of the profits counts as income, which is then taxed at your income rate. 50*50 = 25% in the top bracket.

In the US long-term cap gains is 0%, 15%, or 20% - not far off from 25%.

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