I just noticed that I can exchange bitcoin for tether in the Aqua Wallet. And I can do that anytime and in larger amounts. If I make such an exchange now, it's not a taxable event, is it? Not that it would worry me otherwise, I was just wondering if this could be a way to avoid any potential taxes on financial gains?
Get #Bitcoin.
#aqua #tether
As a Canadian, any exchange for another token would be taxable, if you told them about it.
I believe if you hold the tether for longer than a year it’s a lower tax rate
I believe you'll find everything is taxed to build the roads that have holes all over them to destroy your car... and, also to build statues of Daniel Andrews.
I'm not sure about the tax issue, but I was concerned about this, and so didn't end up using the feature 😢
Hi bro 🤟😉🏴☠️ The exchange of Bitcoin for Tether could be considered a taxable event in many jurisdictions, depending on your country’s tax laws. In most cases, converting Bitcoin to a stablecoin like Tether is seen as a sale or trade, triggering a capital gains tax obligation. The IRS, for example, treats cryptocurrencies as property, meaning any gain from the sale or exchange could be taxable. Even though Tether is designed to maintain a 1:1 peg with the US dollar, it’s still considered a trade of assets for tax purposes.
