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It's not at all uncommon for people to buy and sell cryptocurrencies like Bitcoin or Etherium based on the news. The price of these currencies has been fluctuating wildly with the announcements that support both sides of the market - people who believe cryptocurrency is the real deal and those who doubt it can ever amount to anything more than a fad.
The most recent example of this was when an exchange in Japan announced it would be accepting Bitcoin as legal tender. Within 24 hours, the price of Bitcoin jumped by more than $200 USD - but not everyone was happy with the way things played out. The tax man was one of those who wasn't too happy with the way things worked out. People who trade bitcoin as a means of speculation - as opposed to an investment - will be taxed on the difference between the highest value and the lowest value their stock has ever been.
Trust wallet-tax is meant to help mitigate this issue for consumers and further educate them on how they can work through tax legislation that may be limiting their ability to benefit from these market fluctuations. The site offers several guides and tutorials regarding crypto-taxation, including:
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