Reported 2 months ago
With Bitcoin soaring over 35% this year, tax implications for crypto investors are front and center. Gordon Law's Andrew Gordon highlights that, like stocks, cryptocurrencies incur taxes on every transaction, including conversions between cryptos. As the 2024 election approaches, there's a notable shift in political discourse around crypto, signaling potential regulatory changes aimed at fostering innovation and easing tax reporting for Americans holding crypto. With over 40% of the population invested in cryptocurrency, the call for simpler tax policies is growing.
Source: YAHOO