alt Hacker NewsReticence among retailers predates the capital gains policy of the IRS. The volatility of Bitcoin's value induces excessive exchange risk. However, we don't see capital gains nor exchange risk with stablecoins. I assume that network effects are insufficient to drive retail demand for stablecoin support.
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buckle8017 • yesterday at 6:22 PM
> Reticence among retailers predates the capital gains policy of the IRS. The volatility of Bitcoin's value induces excessive
The IRS policy is irrelevant, the law always required payment of capital gains. It's consistently been the hardest thing about accepting Bitcoin for payment.
Foreign currency payments are largely exempted.
The volatility of bitcoin is why there is capital gains on every trade, it has nothing to do with the IRS's new crypto policy.
If a bitcoin rises or falls by a calculable amount between when you received it vs when you spent a portion of it, you have gains/losses. That has always been required by the IRS to be reported, whether that is a BTC or chicken feathers.