It's a taxing event in some locations.
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Yeah, itβs nuts. Thatβs why I record a transaction both in fiat at the time of transaction and sats.
Yeah, I know. It makes no sense, but in theory you legally have to report it in the US.
It's funny that some people get charged for "illegal money transmission", but they won't let you legally use it as money.
Just don't pay the tax lol! Find a loophole or just forget you did. They can't tax you on stuff you genuinely don't know you ever paid π