If the Internet is the Wild West, then cryptocurrencies are like gold nuggets and blockchain enthusiasts are like miners. For years crypto has stayed this way, but with a new Bitcoin regulation being passed by the House of Representatives and updated IRS crypto regulatory guidelines, the sheriff is finally coming to town. I’m going to tell you whether he’s come to shut down the mine or round up the Outlaws.
In this video, we’ll talk about the Blockchain Innovation Act (Consumer Safety Technology Act), and how it affects crypto taxes. Find out what triggers taxes on cryptocurrency and how you can plan ahead to pay the LEAST taxes possible. It is important to pay your taxes if you are making money in the crypto space. You don’t want to end up like John McAfee. There aren’t a lot of crypto regulations today, leaving a MASSIVE opportunity for us all to make money.
0:00 – Intro
1:10 – IRS FAQ
4:00 – New Crypto Bills
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