Why an earth should we pay such unfair amounts of tax when we have taken the risk of investing in crypto?

Let me preface this post by saying I am NOT ANTI TAX and I know each country has it's own taxation laws. I am specifically talking about the USA and the taxation system generally.

We must all pay our taxes to keep the world going round. But what really really grinds my gears is the cheek of our governments to impose such a high rate of tax when we have taken the risk of investing in crypto.

By investing in crypto we take the chance of getting rug pulled, scammed, hacked and having the wool pulled over our eyes. Not to mention the fact crypto is highly volatile and we risk having large chunks of our portfolio wiped on a daily basis. We have little to no legal recourse in the event this happens to us yet we pay such a high rate.

At least if you invest in the stockmarket there are mechanisms to punish companies that engage in insider trading or manipulate the market. The taxation there arguably reflects the lesser risk you take.

The government can't have it's cake and eat it too. We should be pushing hard for regulation that gives us protection in this space or at the very least a reform of the tax system that reflects the high level of risk we take investing in crypto.