New York Times summarises the major problems associated with cryptocurrency. If you don’t understand cryptocurrency, good luck understanding it. I, on that end have no problem understanding crypto. However, I now find myself lost on the issue of taxes. As the New York Times story pointed out, there are too many questions around this subject, and very little answers. There are no clear guidelines on taxing of cryptocurrencies, and the fact that most governments (including the US and Australian governments) treat cryptocurrencies as properties for tax purposes, and charging a capital gain tax (CGT) makes this process more difficult than it is already. Why is crypto treated as a CGT rather than a normal currency since it is more similar to a currency than a property?
