Cryptocurrency, DEX, and taxes. Three things that when put together make most of us run away. But don’t run! Stay and watch instead. In this short video, Andreas answer’s Craig’s question, ” What are the tax implications of using a decentralized exchange for cryptocurrency in international waters?”
0:00 If I use a DEX on a boat in international waters, who (if anyone) should I pay taxes to?
0:10 Factors to consider include how much food do you have and many more.
1:00 Hire a good crypto savvy accountant, crypto savvy lawyer and boat captain
Taxes, DEX, and crypto – oh my! In this somewhat serious video, Andreas tackles these three issues together in a hypothetical scenario of a cryptocurrency transaction, using a decentralized exchange, while on a boat in international waters. If you’re new to crypto or don’t know the joke yet, there’s a meme in the industry — when people are getting questioned about their crypto-wealth they say, “I lost all of my crypto in an unfortunate boating accident!” Andreas references that meme in this video.
This question is one of many from the August 15th, 2020 Bonus Livestream on Decentralized Exchanges (DEX). See that entire video here:
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Ethereum Q&A: DeFi Explained in Laymans Terms –
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