Spending crypto using a card is actually what people want in order to avoid taxes on crypto as it's treated as a security from the IRS tax perspective.
Anyone who has made money on crypto would love it if they can just spend the crypto as currency and buy every day things with it and remove the tax liability from having to convert to fiat.
15% tax capital gains, no thanks, let me spend it on food and furniture.
Using a credit card that abstracts the details doesn't get you off the hook from paying capital gains tax.
It seems like MasterCard should be reporting each swap of crypto for dollars to the IRS and sending you a tax form at the end of the year. If that's not the case, expect regulatory action to correct it.
I would gladly pay the 15%. I mean how greedy is it to make these kind of gains in crypto and then trying to avoid a measly 15% of tax lol.
In the US long-term cap gains is 0%, 15%, or 20% - not far off from 25%.
https://www.coinbase.com/learn/tips-and-tutorials/crypto-and...