The US Is to Tax Cryptocurrency Exchange

Donald Trump has already signed the following draft law.

The section 1031(а)(1) of the US Internal Revenue Code has been amended. The United States authorities therefore eliminated a tax law loophole that allowed traders to avoid paying taxes for cryptocurrency exchange deals.

Since January 1st, 2018 all cryptocurrency transactions including internal exchange between particular digital currencies will be taxed. It will be necessary to pay tax even if investor exchanges Bitcoin for Ether or any other cryptocurrency.

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