Friday December 4, 2020
Just as the Koreans were celebrating the delay in virtual asset capital gains tax implementation, Americans were caught off guard with Coinbase dishing out 1099-Ks (reports typically issued by card payment companies on gross transactions for voluntary tax compliance) leading many to erroneously think that they had tax bills due to Uncle Sam. Coinbase subsequently issued a statement clarifying that was not the case and has since stopped issuing them allowing $BTC to bounce off the -15% dip fuelled by panicked American investors. We subsequently tested $20K ATHs and this…
