How am I supposed to support the American Dollar if the government punishes me for cashing out into Dollars with taxes, Its like they want us to uses the crypto directly for purchases.
You are not supposed to support any state issued currency.
Governments love money and will always try to make the most of it.
If I can't use the Dollar then when they print more money there will be more inflation, because it will go down in value faster making things more expensive then before.
They need people to use Dollars or they won't be able to print as much money.
Use*
Per US law you owe the tax on the gain, even if you use crypto directly for purchases, though it does make it much more difficult to enforce.
They also want to punish you for using crypto directly. :) Get out while you still can!
If anything the government should force you to cash out into Dollars, creating demand for them. but no one wants to do that if they get mauled by taxes because of a lack of privacy.
