Andrew Henderson is the founder of Nomad Capitalist, a company which helps people from around the world move to different countries while minimizing their tax obligations. In recent years the company has created plans for dozens of people who made their wealth from the cryptocurrency sector, including business owners, traders, investors and consultants. News.Bitcoin.com interviewed Henderson to learn about the process and specifically how it relates to U.S. citizenship.

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US Citizenship Is Costly and Toxic

What makes the plight of Americans stand out is that the U.S. applies its own taxation system on its citizens no matter where in the world they live, which includes its ever-changing rules in on cryptocurrencies. This is in contrast to most countries where taxes are linked to residency.

The Trump tax reform made the taxation of cryptocurrencies worse according to Henderson. So if you’re an American living overseas with crypto income you…

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Source: https://news.bitcoin.com/why-cryptocurrency-investors-are-renouncing-their-us-citizenship/