My anecdata confirms what you said...seems to be the cultural norm to avoid paying tax on crypto profits. I think I read that less than ten Americans declared bitcoin profits over $1m in 2018.
Seems crazy really, it's quite an easy way to go to prison in the US
Biden announced plans yesterday to introduce 43% CGT on those earning over $1m a year and a big market sell off followed.
He won't even get it through the Senate so isn't a real threat anyway.
Why do you say that?
My anecdata confirms what you said...seems to be the cultural norm to avoid paying tax on crypto profits. I think I read that less than ten Americans declared bitcoin profits over $1m in 2018.
Seems crazy really, it's quite an easy way to go to prison in the US