The tax laws are similar elsewhere and it is an accounting nightmare. They treat the buying and selling of crypto like a security, ala stock. So each transaction is a taxable event.

This, of course, gets absurd for those who are doing a lot of swapping. It is why so many are ready to opt out of the system.

Personally I think there needs to be a few areas where privacy is provided and then it is game over.

We will see what developers come up with over the next couple years.

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