own an asset with a cost basis of 100. But given bitcoins global nature, why isnt it considered bitcoin hard fork countdown a foreign currency? And how are capital gains calculated? But there are some that say that bitcoin becomes non-taxable if you convert it before it appreciates. Merchants arent set up to report who spends what to tax authorities. Can you briefly discuss this? But I dont think enough tax evasion will happen to prompt the government to make bitcoins illegal. Stephen Barclay, the economic secretary to the Treasury, set out the governments plans in a written parliamentary answer in October.
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