Here's Why Crypto Taxation is a Good Thing

Here’s Why Crypto Taxation is a Good Thing

Back in February this year, outspoken Bitcoin maximalist Tim Draper gave an interview to Fox Business. During the interview, he predicted that cryptocurrencies would go mainstream within the next five years. Of course, Draper is known for his notoriously bullish forecasts, having previously called Bitcoin hitting $250k by 2023. However, his five-year timeline for crypto going mainstream may end up being conservative, based on the significant forward momentum in 2019 so far.

Laws to implement taxes on cryptos is the second best thing that can happen to the crypto industry in terms of getting acceptance under regulatory laws… The first best would’ve been getting a legal status without taxes being levied. lol.

While many people are scorning over taxation on crypto earnings, I believe that’s a strong bullish sign. Taxes are indeed painful to pay, but this time, I’m happy they are happening.