The United States has passed tax reform that punishes crypto-investors and common users alike for making simple transactions. Viewing cryptocurrencies solely as assets is an outdated approach that will create massive burden on all taxpayers involved in crypto to any degree.

Cryptos can be used as currency and should be treated as so. The current law is too difficult on the taxpayers, and the IRS does not offer sufficient knowledge, resources, or instructions for taxpayers to report accurately. This is a massive liability and headache for filers.

Cryptocurrencies should not be taxed when exchanged for one another, or spent as currency. Period.