So you're going to add trades to your records that show swapping coinomat assets into waves @ Dec 2017 prices? What good does that do? I want my money, not a tax deduction.
Mr Ivanov will be prosecuted by the SEC and other regulators around the world for securities fraud, some ICO's might get through, but probably not WAVES, and definitely not Coinomat assets which included dividend-paying securities which unambiguously are NOT cryptocurrencies, they are securities like shares. The INDEX security was tracking the price of the top20 cryptos supposedly ... you can't issue something like that to American citizens without a proper license, and raising +20M USD in a high profile ICO during the peak of the ICO wild west scam-era will have put Sasha Ivanov in the sights of global regulators looking to send a message by prosecuting some of the worst offenders from 2016-17, especially public people from geopolitically juicy targets like Russia.
If you doubt this look into the history of Liberty Reserve, the same thing will happen to Mr Ivanov
https://en.wikipedia.org/wiki/Liberty_ReserveIn January 2016, Arthur Budovsky pleaded guilty to one count of conspiring to commit money laundering. On May 6, 2016, Budovsky was sentenced to 20 years in prison.
The most likely scenario is Sasha Ivanov will be prosecuted by the SEC later this year for illegal securities fraud and be sent to prison, Coinomat will feature in the prosecution as everything is documented and police reports will now be mounting up. The crackdown is coming and Sasha Ivanov is an easy target.
If you swap your Coinomat assets now for WCT you will get nothing back, however, so assuming you are declaring your crypto activities the best course of action is to convert your Coinomat assets into collateral held by you for a debt of WAVES owed to you by Mr Ivanov, and write it off against other crypto gains now that full details of the theft are known.
If you keep WAVES on an exchange what you really own is WAVES IOU's from that particular exchange - not your keys, not your crypto - and with the long-delayed coinomat swap we are entitled to use all the stated terms for the swap to convert the coinomat assets into WAVES IOU's with Sasha Ivanov as the counterparty. That is the law!
You could even sell other WAVES IOU's held on an exchange, keep the funds, and for Tax purposes your WAVES balance would stay the same, you just sell WAVES to decrease your exchange IOU's by the amount of the Ivanov IOU's you gained during the 'OTC swap' you did with Ivanov at the peak in 2017 and your WAVES balance is unaffected. Mr Ivanov is NOT going to protest is he, he's not negotiating at all, and even if you get audited later you can easily show the calculations and evidence for where the Ivanov WAVES IOU's came from, and when and how they were stolen
All crypto is just ledger entries for taxation purposes anyway, and IOU's for crypto tokens stored on exchange custodial wallets are treated the same as coins you own the private keys for in a wallet on your PC, until you dispose of them, or they get stolen like Mr Ivanov has done - he admitted he stole your WAVES with this recent email (he is offering to swap to WCT, not WAVES at all), and you can value them at the peak if you want, when the 2nd Coinomat swap should have happened. Remember, the debts Ivanov owes you were denominated in WAVES with set values, not worthless WCT, which you were entitled to anyway from the airdrop. The goal is to maximise the fiat value of the theft that you can write off, the value of what you lost at the peak of the 2017 bubble.
But, if you swap now you wont have the Coinomat collateral for the debt Ivanov owes you, and you effectively forgo the chance to value your Ivanov WAVES IOU's at the 2017 peak, and your write-off is peanuts. What you'll get is a trade from coinomat assets valued in 2016 at a few cents, into WCT valued at 0.03 cents today, you miss the 2017 boom completely, like you hodl'd the worst shitcoin from bottom to top, and back to bottom, and you never took any profit. Bad trade!
My advice above is obviously not relevant if you're not declaring your crypto activities, for those poor people I don't have any useful advice.
