913 sats \ 0 replies \ @nullcount 7 Feb \ on: If spending btc is a "taxable event", what's the future of these websites/apps? bitcoin
Most laws are written for the mean (average) and edge cases are decided in court.
The vast majority of "BTC spending" is people buying dollars. So the vast majority would be a taxable event anyways due to capital gains. When the majority of BTC spending is for goods and services, maybe this will pressure the regulators to amend their rules.
https://upload.wikimedia.org/wikipedia/commons/thumb/f/fb/Overton_Window_diagram.svg/440px-Overton_Window_diagram.svg.png
In the 1990's back when strong cryptography was considered munitions, there were websites that would allow you to "export arms to foreign adversaries" at the click of a button. Then, once regulators realized that clicking a button on a website, which sent an email with PGP source code to a server in Iran was turning thousands of american's into felons, they amend the law.