All well and good for you to say that now. But we also can't rewind, there's no safe harbor, and the IRS doesn't appear to be collecting my marginal rate of income tax in the denominated coin. So if I've got a bag of BTG and BSV that's not been sold, I owe a lot for a scam that I didn't unload.
I couldn't disagree with you more about this being fair. it creates a market hazard (dumping), and it fails to recognize the conjoined-value at time of fork. Were the futures value treated as the cost-basis of the new coin, that would be fair.
Moreover, this is a clever way for the IRS to learn your complete BTC holdings AND to seek stricter legal precedents against you.
I couldn't disagree with you more about this being fair. it creates a market hazard (dumping), and it fails to recognize the conjoined-value at time of fork. Were the futures value treated as the cost-basis of the new coin, that would be fair.
Moreover, this is a clever way for the IRS to learn your complete BTC holdings AND to seek stricter legal precedents against you.
All in all, this is very bad for crypto