您现在的位置是:Crypto traders using Robinhood could face tax consequences >>正文
Crypto traders using Robinhood could face tax consequences
上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛45人已围观
简介The bedlam in Wall Street has seemingly spilt over into the crypto sectorYesterday, the US-based com...
The bedlam in Wall Street has seemingly spilt over into the crypto sector
Yesterday, the US-based commission-free online broker Robinhood announced it was halting trading of some stocks. The move has resulted in an uproar among traders and investors who are currently over a barrel. Many have questioned the rationality of Robinhood holding its customers’ crypto assets.
The option to move the assets to a different destination is not on the cards either as the broker has blocked crypto withdrawals too. Crypto users now face a nightmare as they are at a dead end. To exit the platform, the customers need to trade their crypto in exchange for cash. However, this adds to the quandary they are currently caught in.
Selling the crypto means users have another tax problem (resulting from capital gains) to worry about. There’s barely a way out, leave alone an easy one, for crypto investors using the platform at the moment.
Robinhood, founded in 2013, initially started as a brokerage platform for trading stocks and ETFs. The online broker then introduced crypto services after bringing onboard a wave of retail investors. Robinhood gradually introduced Bitcoin and Ethereum trading on the platform at the beginning of 2018.
However, the latest turn of events around the platform has landed it on the wrong side of traders– some saying the platform has started ‘robbing the hood’. The platform’s crypto exposure model has been faulted and criticised heavily. While Robinhood offers its customers exposure to cryptocurrencies, it doesn’t have a provision for customers to transfer the assets to a wallet of their choice.
The biggest challenge Robinhood crypto users face, at present, is withdrawing their assets from the platform without triggering tax consequences. Industry experts believe the predicament is an eye-opener and a reminder to traders that it is not ideal to use brokers for crypto trading.
Investors with crypto on the platform will have to take the hard approach and maybe move to buy actual assets that they can custody themselves.
Tags:
转载:欢迎各位朋友分享到网络,但转载请说明文章出处“上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛”。http://www.jz08.com.cn/news/118135.html
相关文章
Fake Blur airdrop websites steal $300k from unsuspecting users
Crypto traders using Robinhood could face tax consequencesBlur is currently the king of NFT marketplaces after it dislodged OpenSea from the top position.Seve...
阅读更多
Gate.io to launch new Visa debit card in Europe
Crypto traders using Robinhood could face tax consequencesGate Group says the Gate Visa debit card will allow users in Europe to spend their crypto at over 80...
阅读更多
Liquity price rally is gaining steam: How high can LQTY go?
Crypto traders using Robinhood could face tax consequencesLiquity is a small but fast-growing blockchain platform that owns LUSD.LUSD has managed to maintain...
阅读更多
热门文章
- This Private Jet Is On Sale And Will Accept Payment With BTC
- Toncoin breaks into the top 10 after adding 30% in one week
- Cardano outperforming major altcoins as price jumps 10%
- Coinbase receives a Wells notice from the U.S. SEC
- Russia Lifts Ban on Crypto Mining in Abkhazia
- Interactive Brokers just launched crypto trading in Hong Kong
最新文章
Deutsche Bank taps Swiss crypto firm Taurus for custody services
Metacade presale stage 5 selling out as strategic partnership with MEXC is confirmed
South Korean Hana Bank and BitGo to launch joint crypto custody venture
Citi just launched ‘tokenized deposits’ for institutional clients
Fetch.ai price prediction: Analysts say FET eyes leg up
Virtual Duo Babka and Nushi Honor Game Developers Worldwide at GDC