Ripple update: Taxation On Crypto | XRP > Fiat | XRP > ETH
So In theory (hoping) SEC decides Ripple XRP is not a security and will not be taxed at each and every transaction (rendering it useless in the US due to increased fees) Now say you would like to exchange you XRP may that be in 1yr or 10+ will that be taxed at different rate than the transfer from digital asset to digital asset due to the fluctuations in price.
TLDR: will XRP>Fiat be taxed like crazy if XRP>ETH is declared as tax free due to not being securities?
About Ripple (XRP)
Ripple connects banks, payment providers and digital asset exchanges via RippleNet to provide one frictionless experience to send money globally. Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets. XRP is the fastest and most scalable digital asset today.
Author: DisillusionedReality
Score: 8
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