Last year IRS reported 800 people reported BTC holding and paid taxes on it. I know at lease two people that transferred their money in to BTC before filing for bankruptcy to side their assets.
Hopefully laws can put in place for proper taxation.
Hopefully laws can put in place for proper taxation.
Hopefully actions like the above continue and those two people go to prison.
That.. wouldn't accomplish anything. Not by itself. The other side will ask for discovery of financial records, ask for and receive discovery of exchange record (or, if it's cash withdraws for localbitcoins, demand plausible receipts for what it was used for, which will then be investigated). Outside a total fabrication of a false history of losses, involving probably multiple accounts of self-perjury and external help and a lot of luck, I don't see that actually working, and the risk of ending up in jail for a looong period of time is massive.
Source: I've worked an actual divorce case involving bitcoin.
> Hopefully laws can put in place for proper taxation.
There's no need for new laws here. It's entirely covered by existing laws regarding the appreciation of value to capital gains property, with published IRS rules. There's actually not a lot of uncertainty here.