1. zembo Jul 28, 2020 parent

   You can always cash out "Bitcoin you [allegedly] bought back in 2010", or Monero you mined back in the day so there's no way to even prove its source, and declare that to the IRS. With a cost basis of almost zero, you'll pay long term capital gains tax, 15% or 20%.

   BTW when you declare your crypto gains, the IRS not only does not care about the source, there's not even a place on the forms to list the source.

   That might change in the future though.

2. zembo Jul 28, 2020 parent

   How do you explain your business suddenly failing after you're done transferring your old funds into it?

   And isn't it easier to simply cash out XMR you've allegedly mined back in 2014? Long-term held. cost basis zero, capital gains rate 20% max in the US. That's even better than the 21% corporate income tax.

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