5 upvotes, 1 direct replies (showing 1)
4:51 cross chain swaps are gonna be a good kick in the nuts for Trump's new tax plan. The new tax plan makes exchanging one crypto for another a taxable event, preventing the current possibility of deferring the tax by claiming the trade as a "like-kind" exchange. Once transactions can be made without the use of exchanges (which IRS is forcing to release customer records) people will be free to trade currencies without IRS interference again.
Comment by Sparktz at 22/12/2017 at 08:10 UTC
1 upvotes, 1 direct replies
This is interesting, but I don't fully understand. How will Lightning make it where you can swap currencies without incurring a taxable event?