I wonder if the author realizes that the IRS actually did crypto holders a favor by classifying crypto curriences as assets versus as currency? I don’t believe it was entirely well thought out but the fact remains that paying capital gains amounts to a significantly lower tax rate than the income tax does for those of here who actually pay income taxes. Please note I said pay income taxes not file a return. Why do you think people such as Warren Buffet pay capital gains and very little to no income taxes?

The longer you hold crypto curreny (or any asset for that matter) before you realize a gain the less tax you pay . It goes from 20% to 15%. If I had the ability to do so at this time to pay all of my taxes at the 15% level I would in comparison to the 30% I paid in income taxes last year.

Please take time to educate yourself before making bold and uninformed statements .