Facebook: Libra or a sales tax and capital gains tax

According to TechCrunch, Facebook recently provided technology media TechCrunch with information about how its Libra cryptocurrency will remain legal in response to Trump’s allegations that Libra may promote illegal behavior. On tax issues, Facebook and Libra executives expect Libra to be subject to sales taxs and capital gains taxes, where sales taxes are levied in exactly the same way as credit card payments today, due to Libra It is designed to be a relatively stable currency, so the capital gains tax may be very small. In anti-money laundering anti-fraud, Facebook is negotiating with local convenience stores and money changers to ensure that anti-money laundering checks are conducted when users use the currency to buy and sell Libra.