Under the existing system in the US, just about anyone who actually uses crypto regularly can be charged for tax fraud/evasion if they don't have absolutely meticulous records kept of every single explicit activity.
Seriously though, I think that @ some point as crypto is more and more popular, they have to do something because otherwise millions of people will be criminals.
Of course, with the # of laws there are, we pretty much are all criminals already.
Or it might just not get more popular because the risk of becoming a criminal is so high :(
I just tipped you 2K sats. Guess what? Taxable event for you! 😜
Let's see... 2,000 *10^-8= 0.00002 BCH which right now is = ~$0.0059888 USD assuming a 10% capital gains bracket i now owe the IRS $0.00059888 USD. SEE?! SIMPLE!!!
Personally, I've only done less than $10,000 a year in trades since 2017 and I'm fucking terrified I'm going to dig through years of transactions to prove my innocence in an audit.
