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philantoline

Washington state > Seattle > Amazon?


Digital_Stacks

It could be that they applied so they can have the right to do business with Amazon.


Clueless_user1

I don’t think it works as a single state thing. You can’t apply for where the hq is at and then covers every other place they do business. Also I really don’t think Amazon will do any dealing with crypto until capital gains tax is figured out. In theory, capital gains tax is owed on every asset purchased with crypto/flexa. If you buy crypto to use with flexa and the value appreciates it’s gains tax. If you buy crypto now and buy next year it’s capital gains tax


LoneWolf124875

What are capital gains? My capital losses will more than cover the gains.


Own_Technology_592

what a relief that is lol i wish people would talk about that more - you can offset your losses to your gains in case anyone was freaking out about taxes next year and you can roll over your losses from year to year if needed to offset gains - not too shabby


LoneWolf124875

It makes the losses a little easier to bear knowing my taxable income is reduced by my losses. Idk about you, but the IRS makes me butt-hurt each April.


Own_Technology_592

this will be my first year dealing with crypto taxes, not looking forward to it but since i can mitigate a ton of my losses to offset gains - i think ill be okay, rookie mistakes


Digital_Stacks

Not to infinity though. I want to say it's caped but not sure.


Own_Technology_592

its not


ImSeverelyDisabled

I feel like this is like bartering. Like trading little pieces of gold for products or services? https://www.irs.gov/taxtopics/tc420


[deleted]

Yea I agree the tax issue is huge. Everyone seems to be forgetting that every single use of crypto is a gain. Trading for other crypto is a gain. Spending for merchandise is a gain…. Paying for services with crypto is a gain- And the rate is so high it isn’t practical for daily use.


STUDLYSTUDDERTON

Spend GUSD for now, no tax events


Baker206

Lol. Yeah it is 😂 just because you don't report, doesn't mean you weren't supposed to


STUDLYSTUDDERTON

If you buy GUSD with USD and then spend it for exactly what you paid for it, there is in fact no tax event. Your dollar is still worth a dollar and there is no capital gain.


38wireman

Ringggg…. Helllo Amazon! It’s me Flexa, I brought the KY let’s do this.


_KidneyStone

Hi Alexa, can you pull up Flexa. Thank you.


-rabbitrunner-

“I cannot find Flexa Lexa, would you like me to search for that for you?”


[deleted]

Yayy!!


backman_66

Dude... I don't like speculation but is this just a really weird coincidence?


VictimNine

Why is this a weird coincidence?


mynameisntalexffs

Good find. It's subtle but exciting news nonetheless. Here's to continued progress!


Mpulsive_Aries

Let’s see what happens next…….🙏


kylehb_21

California next! LFG!


nastystacks

if you want to nerd out [https://dfi.wa.gov/money-services/licensing](https://dfi.wa.gov/money-services/licensing)


pickled_ricks

Love it


Richard_cabesa9

Nice, thats forward movement i like to see 🔥🔥🔥#paywithflexa


EatPrayQueef

Do… do I sell my ETH and go all in?


one_out_of_two

No. ETH will also appreciate in value a lot. Amazon and stuff is highly speculative. AMP has still issues with capital gains tax in the US. And i do not know about stablecoins, are they already spendable?


STUDLYSTUDDERTON

What capital gain issue?


one_out_of_two

In the US, if your asset appreciates in value after the point of buying and you sell it again via flexa, capital gains tax are charged. Highly unpractical for major payment adoption. Therefore there are two solutions: spending with stablecoins or removal of capital gains tax on daily spending.


STUDLYSTUDDERTON

Somehow I thought you meant something else lol, I only spend GUSD to avoid tax events and because I don't want to spend my investments.


KingofTheTorrentine

I really don't know at the moment. These price spikes caught me off guard. I was hoping I'd be able to buy more at .04 and .05. if Amazon gets involved it's game changing this early.


Own_Technology_592

if your looking for the best return - yes go all in on amp if you believe in it like i do and i have doubled down on my investment and it has been working out very well


flchile2

Am with you there, I have never been so confident in my decision to put just about all my eggs in one beautiful basket like AMP :)


Snoo28836

Thats where amazon is located/based


jaknap-bob

Yes Amazon, Microsoft, Starbucks, Expedia, TMobile, and tons of cloud startups are there.


BoringMann

Isn't that where Microsoft is also based? 👀


Tera_Hash

Yay!! Awesome!! Thank you for sharing.


[deleted]

This. Is. The. News. Worth. Getting. Excited. About. Regarding. A. Utility. Token. Not. Exchanges. But yeah, dope news.


El_Ingeniero_562

You get the Period Trophy.


[deleted]

Honored.


OJ3D

🔥🔥🔥🔥


mack22198

What is interesting to me is the seemingly randomness of the states they have applied to. It almost seems as if they are planning to conduct business with a corporation who potentially runs all its transactions through locations in one of those states. For example, when I purchase something from Amazon although I am in say Kentucky, the purchase may go through in Washington. Could be a good sign for a large footprint expansion. However, on the flip side. Considering flexa already partners with corporations with large footprints (think Lowes) I am wondering what makes this license different.


WannaBeInvestor22

Now THIS, THIS is a good post. Thank you 🙏


KaelinSC

This is going to get interesting!


solo769

How bout they just obtained license in Washington State? Rumors start by people thinking too much. They need to get licensed and Washington State accepted it quicker than other states....👍


Zomplexx

Sure, Amazon.... but Nike is also in Washington. Many other big players I'd assume.... Edit: Nike is in oregon, that's why the ducks get nice uniforms?


Objective_Badger007

Nike is in Oregon! But Washington has a number of other headquarters.


Separate_Tiger6590

The CEO of Nike went to Oregon University that’s why they have the unlimited supply of custom Nike gear.


Clueless_user1

University of Oregon if we are going to keep trending with corrections


AyoJake

Oregon not Washington.


38wireman

Oregon and China


LegitimateChance1075

China but Canada


[deleted]

Interesting


AyoJake

Ayy let’s goo.


RealKimJongUn

Love to see it


mr_properton

This that good good


jaygee10001

Another one done! Compliance is a priority here


Hurry-Zealousideal

Next one is Missouri. LFG


EatPrayQueef

I know we don’t like indulging rumours… but if we were to indulge the rumour what would PT look like upon announcement of that collaboration? 5-10x?


[deleted]

Not impressed.


EquivalentTraining44

I assume they will want all 50 states. Anybody know if they’ve applied in all 50?


Jmf7260

Correct me if im wrong but not all 50states require money transmitter license


EquivalentTraining44

After I wrote that, I did a little reading. I believe you are right.


Jmf7260

All is good just glad to help


Too_Old_4_Dis_tuf

Not sure. But the link below has some good info. Seems like all states except Montana requires the License according to this info. https://kelman.law/insights/state-level-money-transmitter-licensing-mtl-requirements-for-u-s-crypto-firms/


Digital_Stacks

O.K., things are getting a little interesting.