Re:Tether Required Recapitalization in May 2022
by avalys on Friday May 20, 2022 @12:25PM
(#31449560)
Aren't sales of Bitcoin for Tether taxable anyway?
Re:Tether Required Recapitalization in May 2022
by mateuszf on Friday May 20, 2022 @01:41PM
(#31450469)
> Aren't sales of Bitcoin for Tether taxable anyway?
Maybe in US, but not everywhere. For example in Poland where I live crypto to crypto transactions are not taxable.
Re:Tether Required Recapitalization in May 2022
by imhoguy on Friday May 20, 2022 @04:41PM
(#31452258)
In Germany selling crypto for fiat after year should be tax free.
https://www.coindesk.com/policy/2022/05/11/germany-publishes...
Re:Tether Required Recapitalization in May 2022
by astrange on Friday May 20, 2022 @01:01PM
(#31450047)
Decentralized exchanges probably don’t give you the reports you need to do taxes even if you wanted to do them.
Re:Tether Required Recapitalization in May 2022
by Grimburger on Friday May 20, 2022 @03:57PM
(#31451825)
Can't speak for other countries but for Australians, yes, it's a taxable capital gains event.
By moving to a pseudo-dollar like Tether, market makers can hang out while they wait for a suspect better buy-in price in the future. Should pseudo-dollars go way, they actual-Dollar transactions get a taxable haircut. Additionally, the friction of going from actual-Dollar to Bitcoin increases.
Tether is effectively behaving as a crypto-clearing house with their pseudo-dollar.