Start a movement against the IRS & it’s vague & unfair tax laws towards crypto.

I personally am not one that likes to involve myself in conflict, however I feel that if we stand by idly while the IRS continues to place absurd rules on taxes towards crypto nothing will change.

My first order of business is correcting or negating any taxes on converting cryptocurrency. In my opinion I think that in general so long as you do not sell your currency and keep it in a Wallet, you should not receive taxes for it, it becomes an incredibly tedious process for anyone to file, and is still a very vague topic as to what the terms are. I don’t know a specific number but I’ve seen plenty of posts about people that do not claim that they even owned crypto in the first place on their returns, because they keep changing the amount that warrants this.

Secondly, taxing on staking is also incredibly vague. We should not receive taxes for things that we never even sell in the first place, if that’s even mentioned it’s an absolutely absurd idea. Out of every other investment you can make, cryptocurrency is currently the most taxed it would seem. Every method for profit is just being completely regulated.

Thirdly, they should have a forgiveness program in place for individuals that didn’t file because they quite literally did not grasp the rules that they have in place, some people will be taxed for things that they forgot they even own, and believe me, some people do forget. I can’t speak for myself on this, but I’ve seen mention of people being hit with letters & threats, and it’s completely unwarranted given their lack of explanation in the past.

To finalize my point, cryptocurrency may be used for negative purposes, but that is not what the majority of people use it for. The whole point is to have privacy, if we have the IRS or government digging their noses in it, regulating everything we lose that entirely. If we truly want complete freedom with something over a decentralized network, the government should not be modifying every thing that it does. I can’t stress enough how frustrating it is to see these heavy regulations just thrown upon crypto holders, confusing the living hell out of everyone. I say we start a petition, or something to put an end to all of this. Leave crypto the hell alone, or at least make taxing it a more simple process.

TLDR : The IRS needs to completely reevaluate taxing on crypto, and if we just stand by & let them, tax everything & their mother, I feel things may just get worse. We’ve got to put a petition in as a community to at least stress the fact that a lot of these measures just simply are not fair to the average HODLER.