Is the Federal Resrerve OK with Crypto Now?
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I just wish they would figure out the tax code so I know what to prepare for next filing season. That's all that matters to me.
Maybe they'll decide taxing it is silly and drop the idea altogether? Yeah, "In my dreams," I know... ;)
At the very least, make it easier to understand. Currently, cryptocurrency is treated as both currency and property, and taxed as a capital gains for each transaction and conversion. That's 20%. In theory, this means that people can sell at a loss and write off some gains, but...
To the question in your title, my Magic 8-Ball says:
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This was an interesting article. I was worried Corporate-folk would be very black-and-white toward cryptocurrencies, but this article sounds to me like they weighed bitcoin fairly. They don't seem hell-bent on banning it either.