Today I spoke with a friend who is quite politically aware about the possibility that the domestic government may not only be taxing Chinese people trading U.S. stocks, but is also eager to tax the profits from cryptocurrency trading by Chinese citizens.

Once this thought is entertained, it’s probably just a matter of time before it becomes a reality, maybe a year, two years? But one thing is certain: the higher-ups in the country are well aware that Chinese people have been making considerable profits from trading cryptocurrencies, and they want a piece of that pie.

With the acceleration of the compliance process for cryptocurrencies, it is inevitable that the period of tax-free profits for Chinese citizens will come to an end. It's worth noting that Americans and Australians have been paying taxes for many years now.

So, are you ready? If not, you might want to start thinking and planning ahead 😂😂😂