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Jan 29
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AVOID
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Laura Walter
Founder/CPA, CryptoTaxGirl
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"If you don't have the records and then you're audited... the default is to just treat it as a $0 basis... IRS sees that like you were using these privacy coins like Monero... there's just a higher burden of proof." The primary utility of privacy coins is obfuscation. However, using them now carries a maximum financial penalty (100% taxable gains due to $0 basis default) if audited. The risk/reward for holding these assets in a compliant portfolio has collapsed. AVOID. Regulatory friction effectively demonetizes these assets for US taxpayers. Non-US demand remains robust regardless of IRS rules. |
Unchained (Chopping Block)
Your 2025 Crypto Tax Guide: What You Need To ...
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