IRS warns 10,000 cryptocurrency holders they may have broken tax laws

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CNBC’s Robert Frank reports on how bitcoin’s shares plummeted after the IRS sent letters to 10,000 cryptocurrency holders warning that they may have violated tax law.

Comments

Mr10Residentevilfan says:

It'd be funny if people actually comply and the IRS gets what's coming to them when they end up owing the tax payers to compensate for all their investment losses.

Detorreon Pla says:

Yeah because if they say its a currency they can't tax it. Very convenient!

Rebelstarr Haircolor says:

Omg this is such bs.setting people up, fucked up

indo says:

Its the exhanges and btc is transparent to a degree

Augustus Secrest says:

Taxation is theft xmr.to

Matthew Kuraja says:

This news airing is the statists trying to troll and scare FUD into the crypto community to get out of Bitcoin as if it's not worth it.

NBK Krypto says:

Omg … BTC movement had zero to do with those tax letters …lmao. Its unreal how clueless the pundits are about crypto. Dam we must really be early adopters. These guys sound like total fools..

Bijan Najibzadeh says:

Good. Make all the Lolbertarians cry

Jacob Stelter says:

Omg it is pseudoanonymous not anonymous. KYC/AML is incompatible with Bitcoin's privacy model. If one submits to the kyc/aml model, then your identity can be easily connected to Bitcoin.

Jay R says:

The blockchain is to keep track of every transaction. Criminals still hid money and jewels in lock safes like Epstein. Just imagine if that blockchain track all the transaction from Epstein and friends.

Aaron Beavin says:

Lol good luck collecting it

Eternal Zoom says:

Bitcoin can be tracked CNBC…it's an open ledger -_-. The IRS also went to Coinbase exchange to get people's info not through the algorithm it's self. Now privacy coins like Z-Cash, Monero, etc. can't be tracked, which probably be where some the people will go.

Ian Dooda says:

What a bozo

stacey vieira says:

do you only pay capital gains when you transfer bitcoin to any kind of real currency?

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