Crypto isn't meant to side-step taxes and getting clarity from regulators could be the answer that puts the persistent narrative to rest. Opinion Riijo, co-founder of pushprotocol writes for CoinDesk's Tax Week sponsored by koinly
There are people who dislike or are confused by contemporary tax rules around crypto – including regulations that make buying coffee with BTC a taxable event and airdrops a form of income.
However, despite year-over-year efforts to clarify crypto tax filing, regulatory agencies have failed to keep pace with technical innovation in Web3. Things get complicated when considering how crypto is meant to function, and how it differs from anything that came before. Take gas fees, or the price you pay to run computation on a blockchain like Ethereum, which could be treated as traditional portfolio management fees or possibly discounted from capital gains.
Even well-meaning actors may end up feeling unsupported or scrutinized by regulators, and that tension results in the kinds of anti-tax conversations heard on Crypto Twitter. When people in crypto criticize taxes, they do so less out of ideological grandstanding and more out of simple frustration with a system that appears to ignore a technology that is growing in size, profitability and significance.
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