Tezos Nation releases a controversial article titled “Case Study: Is Tezos Crypto Mining Tax-free? How Can It Be Termed Income?”, which may cause upset amongst tezos and other coins miners. More information and the article itself can be found at https://tezosnation.com/case-study-is-tezos-crypto-mining-tax-free-how-can-it-be-termed-income/
Tezos Nation has released a potentially controversial article “Case Study: Is Tezos Crypto Mining Tax-free? How Can It Be Termed Income?”, bringing some cause for concern, as the article may upset people who are more concerned about how taxation applies, especially surrounding the mining of tezos and other crypto coins.
The 618 words article examines the high points and low points of IRS taxing tezos and other crypto coins on mining and newly created blocks, in the pursuit of providing insight and in-depth information on laws and regulations about taxation for crypto coin miners. In a somewhat typical manner though, a certain element of the article is set to spark discontent amongst tezos and other coins miners.
Below is a portion of the piece, which neatly exemplifies the controversial element: “mining tezos tokens by employing owned tokens through a staking process, creating new blocks, and receiving tokens as rewards, can be considered non-taxable income”
A spokesperson for Tezos Nation, Editor-in-Chief, says “Of course, Tezos Nation never sets out to intentionally upset anybody. The aim of our articles is first and foremost to educate the crypto coin miners and stakers about taxation in the blockchain space. It is critical, however, that we stay dedicated to our true voice.
Although our “Case Study: Is Tezos Crypto Mining Tax-free? How Can It Be Termed Income?” might unsettle people who are more concerned about how taxation applies, especially surrounding the mining of tezos and other crypto coins, our duty is to our readers. We believe it’s more important to educate people to be responsible citizens while complying with regulations and understand how taxation works than to please everyone. Which is notoriously difficult to do.”
Although there has been no backlash as of yet, the possibility exists as the article presents a solid case study, but it may not give a similar result outcome when adopted in other states or scenarios.
Tezos Nation has been a provider of in-depth articles in the tezos crypto coin market for the past few months. Tezos Nation has stated that the future aims for the website are to give awareness and keep blockchain enthusiasts, inventors, and miners updated with the latest information and developments. So Tezos Nation hopes any controversy will pass quickly and re-emphasizes no offense is or was intended.
Tezos Nation’s complete article can be found at https://tezosnation.com/case-study-is-tezos-crypto-mining-tax-free-how-can-it-be-termed-income/