Since pre-mainnet coins are mined at $0 value, no immediate taxes are due, though future valuations may alter this stance. Thoughts on this tax interpretation?
From my personal perspective, the main advantage of considering the zero-value status of pre-mainnet coins is that it helps avoid tax implications at the time of mining. However, caution is warranted, as future conversions or transfers can convert these into taxable events once they acquire market value. I have followed regulatory updates closely and experienced that unforeseen tax liabilities may arise with eventual appreciation. Therefore, I recommend maintaining detailed records and consulting a tax specialist to keep abreast of any shifts in tax rules associated with cryptocurrency activities.