Allen
Hotshot
Joined: Oct 1999
Posts: 8,854
Ohio USA
Quote
Just In: IRS Will Receive Personally Identifiable Data of Coinbase Users
The agency had argued that only 802 US citizens reported cryptocurrency holdings in their taxes in 2015 when millions were transacting in the digital currencies....
One selling point of Crypotcurrency has apparently been the ability to avoid paying taxes on income. Cryptocurrency when well handled allowed for untraceable transactions.
I speculate: If hiding income with cryptocurrency transactions becomes harder to do, cryptocurrency may become less valuable -- thereby more quickly freeing up RX580s and RX Vega's for gamer's to buy at reasonable prices.
