Indonesia, where Kinesis Money will have its first large-scale adoption, does not tax gold transactions -- it essentially treats gold as money instead of a taxable collectible. I have both a Kinesis holding as well as a Quintric holding. I wish Kinesis (big operation) could incorporate Quintric (small operation) for US citizens by vaulting only in the US in legal tender coins so that spending out of a Kinesis account for US citizens would not be such an accounting hassle tax-wise. As it stands now, US citizens spending out of Kinesis must track all purchases and sales of Kinesis gold and upload those transactions into some crypto accounting software to determine the capital gains or losses for the year. My understanding is that because Quintric only holds legal tender coins, spending out of that account is not taxable. If someone was willing to sell me their car for 10 legal tender 1 oz coins then I will have to pay a sales tax based upon the generally recognized Fed reserve note value of the car, but there would be no capital gains tax due on the appreciation of those legal tender coins compared to Federal reserve notes since the time I purchased the coins. This sale would not trigger capital gains tax because legal tender coins can be used as payment and thus are treated as money by the tax code. Am I missing something?

SGI Buddhist, Loves Irish and Latin American Literature, History buff, knows a great deal about Medicare

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