Expert Calls This Action On XRP the Smartest Move In Crypto
Main Idea
Borrowing against XRP collateral is highlighted as a smart tax move in crypto, as loans are not considered taxable events, allowing investors to access liquidity while deferring or avoiding capital gains tax.
Key Points
1. Versan Aljarrah, co-founder of Black Swan Capitalist, calls borrowing against XRP collateral one of the smartest tax moves in crypto.
2. Loans are not considered taxable events, enabling investors to access liquidity without triggering capital gains tax.
3. Moving from one crypto asset to another is treated as a taxable event, similar to selling, under current regulations.
4. Borrowing against XRP or other crypto holdings can be an effective strategy for long-term holders to optimize liquidity and tax efficiency.
Description
Versan Aljarrah, co-founder of Black Swan Capitalist, has highlighted the potential tax benefits of borrowing against XRP holdings instead of selling them, tagging it one of the smartest moves in crypto. In a recent post , Aljarrah stated that “borrowing against $XRP collateral might be the smartest tax move in crypto,” referencing commentary from prominent tax attorney Andrew Gordon. According to Gordon, loans are not considered taxable events, making them a way to access liquidity while deferr...
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