Tax agencies will double down on crypto before Bitcoin hits $1M
As Bitcoin’s value surges, tax agencies are ramping up efforts to track crypto transactions, leaving no room for complacency.
Opinion by: Robin Singh, CEO of Koinly
In the race between regulation and Bitcoin (BTC) all-time highs, there is no doubt tax agencies will double down on their crypto-tracking systems well before Bitcoin hits $1 million.
Crypto investors shouldn’t become complacent or assume they can skate by until the million-dollar price tag. In addition to their laser focus on the future, they are becoming skilled at scrutinizing the past. Many jurisdictions have the power to backtrack on previous years, and if tax authorities realize how much they’ve missed, they won’t just let it slide…
