Reply to post: Re: Just a thought.

'Bitcoin creator' Craig Yeah Wright in meltdown

Naselus

Re: Just a thought.

Not really, no.

The 'Tax thing' he's involved in is because he owns numerous companies which operate by buying things off each other and then claiming tax rebates from the AUS government - i.e., tax fraud. He was so blatant with this that several of the companies had no assets aside from outstanding sales tax rebates on deals with other companies of which he was the sole owner, and it's such an open-and-shut case that he has fled the country. Apparently, none of this in any way reduced the BBC's willingness to take his words at face value.

And just owning a lot of money is not, in itself, directly taxable. Interest on it would be, but bitcoins don't accumulate any. Selling the coins might make him eligible to pay CGT on the value that they'd gained, but he hasn't sold them (almost certainly because he doesn't actually possess them).

The one thing that Wright seems to have actually achieved from all this is nicking £5 from Rory Cellan-Jones: http://www.bbc.co.uk/news/technology-36213588

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