RE: Big News: Kik creates "Defense Fund" to get SEC to change stance on crypto!

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Big News: Kik creates "Defense Fund" to get SEC to change stance on crypto!

in crypto •  6 years ago 

FOREX trading does involve capital gains taxes--multiple forms, in fact, depending under what section you elect to treat them under, or the exact nature of the transaction. There are, I believe, exceptions for small personal transactions, which is what some in the Congress are trying to get for cryptos as well.

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If I buy a currency, and use that currency to purchase a loaf of bread I do not have to declare capital gains on that purchase of bread. Right now merchants that accept bitcoin, do.