Those who create cryptocurrencies at the start of the year will want to consider ‘tax collection’ just because they lost a year in paper money.
Important: I am not a tax preparer, I will do my best to provide the logic in view of the current encryption rules. Please consult your tax advisor before making important investment decisions. Also, be sure to get involved in things like long-term capital gains tax and tax liability before taking any action. In very special cases, it is reasonable to feel tax losses!
Simply put, if you quickly exchange and exchange the encrypted money you enter and re-enter, you will realize the benefits / losses at this point.
If you made a lot of money at the start of the year, lost your paper money, and lost your paper because you are now HODL, you can make up for it by hitting a few buttons (reducing or eliminating your tax liability).
It sounds crazy, but the rules would make sense.
It doesn’t work with stocks, as stocks have a 30-day clear sale rule, but cryptocurrencies are tax-deductible (they are defined as assets. This is a 30-day rule, not rules, so you can instantly make a profit / loss in a bilateral trade to make a profit / loss, you have to win.