[ExI] bitcoin again

[BillK]

On Fri, 25 Nov 2022 at 15:14, spike jones via extropy-chat
<extropy-chat at lists.extropy.org> wrote:
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<snip>
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> My geezer friends then pointed out that Bankman Fried did not pay taxes on his… numbers.  I immediately responded: I retract and reverse previous prediction.  They will roast his ass bigtime.
>
> spike
> _______________________________________________


I'm not sure what taxes you are referring to.
Individuals may be liable for tax when trading crypto. i.e. exchanging
between crypto and fiat or a different crypto. They may also be able
to offset trading losses against gains.
Just holding crypto doesn't incur a tax liability.
A crypto exchange (like FTX) is not liable for customers' taxes.
An exchange is a business and will prepare annual accounts and be
taxed accordingly.  If Fried *personally* owned and traded crypto
then his personal tax affairs are the same as anybody else that
traded crypto.
My impression is that he was acting as owner of a business (FTX) and
misusing company holdings of customer crypto.
So I'm not sure where your suggestion about tax problems comes from.



BillK