I cannot stress this enough, please pay your taxes on your crypto earnings.

This post is a reference to a previous post of mine that was deleted as I stupidly disclosed some private information regarding court casesand names.

Some of you might of seen a post I made a few months back about a user in our trading group that made some pretty substantial gains but refused to pay his CGT.

A friend of mine within our trading group dropped £5000 on a dog based meme coin that I won't disclose

( I'm sure you all know the coin I'm talking about ),

that mooned a while back. He made some insane gains in the mid 5 figures and insisted he wasn't going to pay his taxes on his earnings. His bank notified HMRC (the UK tax office) of a large deposit from an online source, this is a anti money laundering scheme banks are currently using . He was later investigated by the tax man and was issued a court date order.

5 months on, today at 0930 GMT I got a text from his mother notifying me that he's been sentenced for 14 months for tax evasion, there's been no update on weather the tax office has seized his funds or not.

He's 23 years old... at best he'll do 8 months but that's besides the point. He's losing 8 months + of his life and will probably be losing everything, his job, all of his earnings and now has a criminal record hindering his future.

Please don't fuck around with taxes. I don't like them as much as the rest of you but in reality you'll be paying a few hundred or maybe a few thousand on a decent profit. I don't like that governments try to downplay and ban crypto but are happy enough to tax us on it, problem is we have to live under those rules and it's not worth prison over a little bit of greed and money.

please stay safe everyone, just pay your taxes and you can sleep alot better at night. Much love from another diamond handed moron

Edit - I understand capital gains taxes are different for each country so this is a broad message for those who have to pay taxes.