TikTok and YouTube Are Filled With Crypto Tax Avoidance Advice
https://www.vice.com/en_us/article/n7nppd/tiktok-and-youtube-are-filled-with-crypto-tax-avoidance-advice
The growth of crypto trading has led to a huge rise in a number of resources about how to handle taxes on crypto gains. But, for every expert or influencer offering clarity on how to properly pay taxes on capital gains from crypto trades, there seems to be another person offering insight into how to dodge taxes. Indeed, platforms like Youtube and TikTok are filled with videos with titles like “Crypto Tax Evasion 101” or “Avoiding Capital Gains on Cryptocurrency,” many of which were posted within the past year and have hundreds of thousands of fews.
Part of this comes down to how complicated tracking crypto gains and losses has become with the ascension of decentralized finance, or DeFi, which encompasses more complex mechanics like airdrops, staking, yield farming, and other speculative endeavors based on digital tokens and assets that have yielded both short-term and long-term capital gains.