Where to buy/sell in US?

[LordAMV]

Are there any exchanges in the US currently allowing transactions in XRP?  If so, where?  I am seeing even some of the old holdouts like Kraken don't appear to let us trade XRP anymore.

[HAL1000]

2 hours ago, LordAMV said:

Are there any exchanges in the US currently allowing transactions in XRP?  If so, where?  I am seeing even some of the old holdouts like Kraken don't appear to let us trade XRP anymore.

https://uphold.com/

[Gismapper]

On 6/2/2023 at 5:19 PM, HAL1000 said:

https://uphold.com/

please pardon my noobish question...I'm a US resident and I'm really struggling with something here.  I haven't bought any additional XRP since everyone in the US de-listed it.  I'm in a position right now where I could buy more, and I definitely want to, but I'm concerned about what happens with my taxes if my digital assets end up in an account (or even just on a server) overseas.  How would I know if I need to report it as a "foreign asset" on my taxes?  You know that question they ask and the box you have to check?  What world of scrutiny am I opening myself up to if I buy XRP on uphold? 

Again, please pardon the silly question.  I never want to be one who draws unnecessary attention to myself on my taxes.  And please pardon what could easily be construed as a request for tax advice.  I'm just trying to figure out if it's worth the potential hassle. 

Thanks! 

[HAL1000]

1 minute ago, Gismapper said:

please pardon my noobish question...I'm a US resident and I'm really struggling with something here.  I haven't bought any additional XRP since everyone in the US de-listed it.  I'm in a position right now where I could buy more, and I definitely want to, but I'm concerned about what happens with my taxes if my digital assets end up in an account (or even just on a server) overseas.  How would I know if I need to report it as a "foreign asset" on my taxes?  You know that question they ask and the box you have to check?  What world of scrutiny am I opening myself up to if I buy XRP on uphold? 

Again, please pardon the silly question.  I never want to be one who draws unnecessary attention to myself on my taxes.  And please pardon what could easily be construed as a request for tax advice.  I'm just trying to figure out if it's worth the potential hassle. 

Thanks! 

I think you're fine buying it, it's selling it that raises issues, I might be wrong, I'm not American, also I think New York might have different rules (not 100% on that). BUT there are plenty of crypto tax accountants that now specialise in crypto. Also if the case ends with clarification for XRP being deemed a non security, then things should be a heck of lot less problematic for end users in the USA.

[Gismapper]

2 hours ago, HAL1000 said:

I think you're fine buying it, it's selling it that raises issues, I might be wrong, I'm not American, also I think New York might have different rules (not 100% on that). BUT there are plenty of crypto tax accountants that now specialise in crypto. Also if the case ends with clarification for XRP being deemed a non security, then things should be a heck of lot less problematic for end users in the USA.

Thanks so much for the reply and the ideas. I honestly didn't realize that you're not in the USA.  I'll dig into it. 

[JoeBishop]

@Gismapper read up on the FBAR document if you transfer/have 10k US or more on a foreign exchange at any given time. US citizens are required to file this for any tax year that scenario is relevant. 

https://www.irs.gov/businesses/small-businesses-self-employed/report-of-foreign-bank-and-financial-accounts-fbar

Edited June 10 by JoeBishop