☕️ Buying Starbucks with Bitcoin could pose significant tax issues
According to previous reporting form The Block, Starbucks agreed to install Bakkt software to allow coffee purchases with bitcoin. But these crypto-for-coffee transactions could be incredibly burdensome under existing tax regulations, says James Foust, senior research fellow at Coin Center. Neeraj Agrawal also notes that anyone who buys coffee at Starbucks with crypto "you will be required to calculate capital gains on every cup of coffee you buy".
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