A viewer asked: Why do I need an LLC? This recording is Jake Claver's answer, in full and unedited.
Covered in this recordingcold storage, capital gains
More on this subject: jakeclaver.com.
What this recording covers
Claver addresses an inquiry from an individual holding XRP in hardware storage regarding whether establishing a corporate entity is necessary before selling assets. He explains that holding digital assets under personal ownership exposes individuals directly to tax liabilities upon disposition, with rates depending on holding duration and individual tax status. Claver explains that in the United States, utilizing a corporate structure allows individuals to access standard business provisions and expense deductions to offset tax liabilities based on how proceeds are deployed. For international asset holders, such as Canadian residents, Claver notes that domestic tax regulations differ significantly from United States rules. He suggests that individuals residing in other countries consult qualified legal professionals in their home regions to structure entities and accounts appropriately for local tax compliance.
Where this fits
This page hosts a recorded video and a short summary of what it covers. It is general information, not investment, tax, or legal advice, and not a recommendation to buy or sell any asset or to form any entity. Rules change and older recordings may describe a position that has since moved. Speak to a qualified professional before acting.