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<p>Coinbase (COIN) is rightfully raising concerns over the IRS's new 1099-DA tax reporting rules for crypto. Requiring reporting on stablecoins like USDC, which maintain a steady value, is a perfect example of needless complexity. With retail investors now burdened by unnecessary data collection from trivial transactions, perhaps it’s time to rethink how crypto fits within our tax framework. When taxpayers have to calculate gains for $50 trades, we're definitely complicating things more than needed. #CryptoTax
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Coinbase (COIN) is rightfully raising concerns over the IRS's new 1099-DA tax reporting rules for crypto. Requiring reporting on stablecoins like USDC, which maintain a steady value, is a perfect example of needless complexity. With retail investors now burdened by unnecessary data collection from trivial transactions, perhaps it’s time to rethink how crypto fits within our tax framework. When taxpayers have to calculate gains for $50 trades, we're definitely complicating things more than needed

Coinbase (COIN) is rightfully raising concerns over the IRS's new 1099-DA tax reporting rules for crypto. Requiring reporting on stablecoins like USDC, which maintain a steady value, is a perfect example of needless complexity. With retail investors now burdened by unnecessary data collection from trivial transactions, perhaps it’s time to rethink how crypto fits within our tax framework. When taxpayers have to calculate gains for $50 trades, we're definitely complicating things more than needed. #CryptoTax ⬇️

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