62. El Salvador on The Bitcoin Standard
The Bitcoin Standard Podcast
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Is There a Tax Cut on Bitcoins?
In the US, you can choose to treat the exchange rate gains under Section 988. But you can also choose not to recognize gains or losses. I believe the European treatment of foreign currencies is the same. So for example, if the European holds US dollars and recognizes gains on the transactions, I don't think as an individual, you have to pay taxes on those. The countries will have to modify their tax loss or potentially there's a door open for not having to pay capital tax gains.
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