MedWellAI Inc (MWAI)

[Strategyone]

I am cautiously looking into NEXO now. Because they are an exchange outside of the US, the IRS has no leverage to force disclosure compliance from NEXO to the IRS. Therefore, you could likely avoid US capital gains tax from NEXO holdings. However, NEXO is based in Switzerland and is registered in 200 countries (according to their website). I do not know what agreements they have with other countries for exchanging data.

I also have the dilemma that my crypto is mostly in an exchange and if I move it to NEXO, I pay 3% fee for the transaction to withdraw. Wipes out much of a years interest just moving it to Switzerland. What happens when I want to move it back? Do I lose 6% on the round trip?

Just things to think about.

I am expecting US exchanges to eventually pay interest to stay competitive world wide. Just a matter of time.