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>It may also lead to jail time for a substantial portion of the crypto community.

I'm cracking up over here. Are you actually being serious?

They'll be kept company there by all the people who caused the 2008 US housing crisis.

I’d claim that tax misrepresentation would likely lead to some jail time, particularly for those that don’t have the funds for legal representation. As far as I can tell, the prevailing point of Bitcoin is to make capital gains.

If crypto is a commodity, people still owe the same capital gains tax.

The IRS has been giving tax guidance on crypto for years; any US person in crypto with half a brain has been following it.

Agreed. I was providing an example whereby a person could end up in jail from participating in crypto.

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