How Much Tax Does US Bitcoin Miners Have To Pay?
The recent years have been the era of Bitcoin boomers, where values surged and investors got some big profits this year. Despite its environmental concerns, the United States of America has wildly participated in investing and mining activities and taxes have now been imposed on its value. The tax imposition on your crypto transactions now may affect your business model or your annual bill settlements. This has been far so reinstated since China banned the industry in 2021. Since then, there has been a rush of miners with a groundbreaking track price of USD 68,000, as recorded in November 2021. Additionally, the pre-mining factor before the initial Coin Offering has hastened the process to a major extent. As the situation may be, Bitcoin and Ethereum are subjected to capital gains tax rules and all crypto-currency are treated as capital assets, owing to the government a certain amount of tax, when you sell it at a profit. This article sheds light on the rudimentary process ...