Well yeah. Do you think the government simps Yugioh cards either? They don’t care wether they think what you are into is stupid or not. Idiots have money. Idiots spend money. Idiots make money. Some might argue that the greater measure of commerce is arguably comprised of idiocy. The government is not going to recognize MMORPG gold as a financial instrument either or your pristine beanie baby collection. They will not extend the legal protections of currency and banking implements to your rare anime girl body pillow collection.
Taxes get complicated but the simple principle is- if you make money in the country or as l/with a citizen of the country, the government wants to know and they’ll be asking how you intend to account that money with them.
There are already processes in place to deal with legal rights and commerce of ideas and concepts, of art and data. The marketing terms used or where hobbyists find value doesn’t change what crypto is.
Keep in mind comedians tell jokes and get paid to do it. Let that sink in. They trade jokes for money. Some of them are multi millionaires off jokes. Do you think comedians don’t pay tax because it seems ridiculous to tax someone on a joke? Yeah man. If you tell a joke and get paid- there is a joke tax. That joke cost you some money to tell. Salt, diamonds, those cheap crafts at the art fair- rocks. Those are rocks. If you can get money for a rock- one you found laying on the ground- that’s a tax issue. If your dog rolls in paint on a piece of paper there’s no tax there. If you sell it and make money there is tax. See a theme? A pretty constant theme?
Taxes get complicated but the simple principle is- if you make money in the country or as l/with a citizen of the country, the government wants to know and they’ll be asking how you intend to account that money with them.
There are already processes in place to deal with legal rights and commerce of ideas and concepts, of art and data. The marketing terms used or where hobbyists find value doesn’t change what crypto is.