FAQ discussion: Why can’t I get paid directly to Brave Wallet?

Addressing the closed topic:

“that’s stuff I’m going to have to research on and that I figured I’d share, as it’s interesting conversation to be having.”

–I completely agree!

I submit that Brave rewards are not the proceeds of a capital investment, and thus not required to pass through the hands of a third party spy who violates the fourth amendment right to privacy.

There is a reason why the words “territory” and “terrorism” share the same root. If Brave is being terrorized by state actors, the company should move to a friendly jurisdiction because the custody requirement is sabotaging the success of this platform.

🛜 https://reticulum.network

I totally agree Reward programs are NOT income!
If they were, every Grocery / Department store reward programs would be subject to taxes.

@biggy1 this is giving cryptocurrency though. There was a time when you could get vBAT which was more of rewards you could use to help support creators. But people instead have been using it just strictly to cash out. Since you’re pulling a currency and not just using it toward products with Brave, it becomes something more.

If it’s done via purchases and all, it generally is seen as a discount and therefore not taxable. However, getting paid for services (such as viewing ads) would be seen as income. If it was being paid in fiat, this would be a clear open and close situation.

As for cryptocurrencies, there’s some more blurred areas about taxation as many say you don’t report as earnings and therefore don’t get taxed until you convert them to fiat. However, they still have heavy regulations over things like KYC/AML and all.

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