CryptoGOV

23 Nov 2022 18:47

That's my question too.

I know the Tornado Cash developer that got arrested in the Netherlands recently got charged for money laundering (like a couple of days ago) and is still in prison. He is no longer just being held withOUT charges. (That dude has been in prison since August.)

Here 👇 is a good YouTube video link:

CryptoGOV

23 Nov 2022 06:34

It pretty much is written here in the official guide

CryptoGOV

23 Nov 2022 06:33

This is what I understood to be true in the U.K.

CryptoGOV

23 Nov 2022 02:24

They don't care where the funds come from to pay the tax bill, even if you have to sell at a profit to pay it, generating more taxes for the next year

CryptoGOV

23 Nov 2022 01:17

How do you pay taxes on yield from a stake or something you hold that automatically earns yield if you don't realize these gains? Or say you hold one token and earn in another native token but never trade it.? Another question that I have if all the other pulsechain sacrifices launch at zero how would you do taxes on nothing, a loss?

CryptoGOV

23 Nov 2022 00:40

https://www.zerohedge.com/crypto/first-ftx-bankruptcy-hearing-highlights-substantial-amount-ftx-assets-stolen-dueling-bahamas “What we have here is a worldwide, international organization, but which was run as a personal fiefdom of Sam Bankman-Fried.” Geez. Ass-hats like this get lavished with praise and then protected when SHTF. while the good guys like Rh get gate-kept.

CryptoGOV

22 Nov 2022 21:58

https://twitter.com/freddyriz/status/1595103398680199168?s=20

CryptoGOV

22 Nov 2022 12:09

Anyone from the U.K. here filed taxes ??? Keen to hear from you

CryptoGOV

22 Nov 2022 12:05

Thanks for this I do agree but the HMRC in U.K. States all staking rewards - in this case HEX rewards / inflation - will be taxed as income … I.e. at moment you receive it (end stake and mint) this is also the advice I had from two accountants here who confirm that theory. Again I am not giving any advice rather stating what I was told. I still not sure myself. I really appreciate your input thank you

CryptoGOV

22 Nov 2022 06:49

No, don't cave, but fighting is expensive. Unfortunately, caving is also expensive.

CryptoGOV

22 Nov 2022 06:20

It is a legit stand to take imo, but be prepared to fight or surrender if the irs calls you out on it.

CryptoGOV

22 Nov 2022 04:26

everytime i hear about paying taxes on your crypto i throw this out ... lol sorry not sorry.

CryptoGOV

22 Nov 2022 02:44

There are a number of us, in the states, that will not pay taxes on the inflation minted at end of stake. Rather, that is would be taxed if you swap/sell down the road. You don’t pay taxes as a baker on the bread you make when you pull from the oven, only when you sell it. This is still uncertain

CryptoGOV

21 Nov 2022 03:58

I could always do SENS again this year for old time's sake just for longevity research.

CryptoGOV

21 Nov 2022 03:50

Not on paper it didn't.

CryptoGOV

23 Nov 2022 15:06

Is there an update on Coinbase‘s lawsuit against the US Treasury Department regarding the TornadoCash ban?

CryptoGOV

23 Nov 2022 06:33

https://www.gov.uk/hmrc-internal-manuals/cryptoassets-manual/crypto21200

CryptoGOV

23 Nov 2022 03:50

In US, new or additional tokens you receive as yield are considered taxable income that year if they have higher than zero value. Whatever value you pay tax on becomes your basis cost in the event the token increases in value before you sell, resulting in cap gains.

CryptoGOV

23 Nov 2022 01:22

What about airdrops that you never sale or trade is that taxable even though you haven't sold your property

CryptoGOV

23 Nov 2022 00:51

https://www.zerohedge.com/markets/sam-bankman-frieds-parents-bought-bahamas-vacation-home-among-121-million-ftx-property HEADS ON FUCKING STICKS!!!!!!!!!!!!!

CryptoGOV

23 Nov 2022 00:28

M'fing sack of Donkey Sh**

CryptoGOV

22 Nov 2022 13:48

When you receive the sacrifice coins they will be worth 0 usd for 48 hours so you pay tax when you sell I think

CryptoGOV

22 Nov 2022 12:07

See I was told it’s income tax on receipt of rewards. The capital gains when you sell on an profit. This is also what the U.K. HMRC crytpo assets manual states
Feels like Daylight robbery.

The same for all m Celsius rewards. Koinly taxes these as income as at moment of receipt then CGT on any profits (or loss) once sold

CryptoGOV

22 Nov 2022 08:40

So, If sale at a loss, how will I be able to justify where these sacrifice balances came from? The pulsechain sac guide won't download im I doing something wrong?

CryptoGOV

22 Nov 2022 06:21

No problem changing positions when it is clarified/required. Not sure one needs to cave on first blush when the positions are not clear in the regulations

CryptoGOV

22 Nov 2022 05:29

That is fair. And is another analogy that works.

CryptoGOV

22 Nov 2022 03:43

that analogy is not applicable in this case. Its more like a stock dividend, where you earn income in the form of additional units of your investment, which are not taxed on receipt but instead on sale.

CryptoGOV

21 Nov 2022 07:31

Are you spying on me?😉😍

CryptoGOV

21 Nov 2022 03:54

IMO, those red people have issues that make it hard to vote for them.

CryptoGOV

21 Nov 2022 03:49

Not much of a red wave happened btw. Oh well.