I’d claim that tax misrepresentation would likely lead to some jail time, partic... | Hacker News

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		mirntyfirty on June 29, 2022 \| parent \| context \| favorite \| on: Bitcoin is the only coin the SEC Chair will call a... I’d claim that tax misrepresentation would likely lead to some jail time, particularly for those that don’t have the funds for legal representation. As far as I can tell, the prevailing point of Bitcoin is to make capital gains.

DennisP on June 29, 2022 [–]

If crypto is a commodity, people still owe the same capital gains tax.

The IRS has been giving tax guidance on crypto for years; any US person in crypto with half a brain has been following it.

mirntyfirty on June 29, 2022 | [–]

Agreed. I was providing an example whereby a person could end up in jail from participating in crypto.

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