Explain and summarize in one paragraph why you agree with this below.

I personally do not believe it is fair that the U$.$S$.$ government taxes individuals up to $50\%$ for making money on cryptocurrency. As someone who lives in New York $($which is one of the highest paying tax states$),$ we don$$t even pay that high in taxes. If the government $($specifically the IRS$)$ is considering cryptocurrency as stocks, bonds, and other capital assets $($Coinbase $($n$.$d$.)),$ and taxes are unavoidable, then I believe they should be taxed at the capital gains rate of up to $20\%$ especially considering the IRS primarily considers crypto as property. Even the highest federal tax rate an individual can pay is $37\%$ at the highest tax bracket $($Smartasset $(2025)).$ In instances where people are trying to make a living through mining and storing crypto and taxes are incurred, it could also alternatively be at the state standard tax rate for the amount. The whole idea behind the creation of cryptocurrency was to stay away from the control of third parties and their influence. If someone is purchasing cryptocurrency then they should understand the risk they are signing up for and understand that if anything goes wrong, it is on them. If the high tax is to combat bad actors using cryptocurrency for evil, they are going to find a way to evade tax anyway, thus having the people not using it for bad paying the price.