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Bitcoin and Tax: The Coming Coinbase Fiasco - Mike Maloney

Published: Richie, 2017-12-03 14:57 (edited)

Next blow off top will probably come when IRS sends out bills to pay tax + penalty + interest to all Coinbase users that didn't report their profits.

And guess what - they can't pay in Bitcoins - they will have to sell off Bitcoins to get the dollars to pay the tax + interest + penalty. This will most likely cause a significant drop in the BTC value.

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