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2. Virtual currency law in the United States - Wikipedia

   en.wikipedia.org/wiki/Virtual_currency_law_in...

   The regulatory and market environment. The Internal Revenue Service (IRS) describes Virtual Currencies (VCs) as "a digital representation of value that functions as a medium of exchange, a unit of account, and/or a store of value [and] does not have legal tender status in any jurisdiction." [4] Although, electronic payment systems have been ...

3. Cryptocurrency taxes: A guide to tax rules for Bitcoin ... - AOL

   www.aol.com/finance/cryptocurrency-taxes-guide...

   Cryptocurrency taxes: A guide to tax rules for Bitcoin, Ethereum and more. James Royal, Ph.D. March 27, 2024 at 4:00 PM. With the staggering rise and fall of some cryptocurrencies such as Bitcoin ...

4. 8 Cryptocurrency Tax Nightmares and How To Avoid Them - AOL

   www.aol.com/finance/8-cryptocurrency-tax...

   How the IRS Treats Cryptocurrency The most important thing to understand about the tax implications of cryptocurrency is that the IRS has designated all “virtual currency” as a form of property.

5. Virtual currency - Wikipedia

   en.wikipedia.org/wiki/Virtual_currency

   Virtual currency, or virtual money, is a digital currency that is largely unregulated, issued and usually controlled by its developers, and used and accepted electronically among the members of a specific virtual community. [1] In 2014, the European Banking Authority defined virtual currency as "a digital representation of value that is neither ...

6. Cryptocurrency - Wikipedia

   en.wikipedia.org/wiki/Cryptocurrency

   A cryptocurrency, crypto-currency, or crypto[a] is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it. [2] It has, from a financial point of view, grown to be its own asset class.

7. Need to report cryptocurrency on your taxes? Here’s how to ...

   www.aol.com/finance/report-cryptocurrency-taxes...

   The IRS requires all filers to state whether they’ve received or sold digital currency in the relevant tax year. When reporting your realized gains or losses on cryptocurrency, use Form 8949 to ...

8. Legality of cryptocurrency by country or territory - Wikipedia

   en.wikipedia.org/wiki/Legality_of_cryptocurrency...

   They underlined that virtual currencies (including bitcoin): (1) are not issued or guaranteed by the central bank, (2) are not money, i.e. they are neither legal tender nor currency, (3) can not be used to pay tax liabilities, (4) do not meet the criterion of universal acceptability in shopping and service points, (5) are not electronic money ...

9. If you trade a lot of cryptocurrency, the IRS might be ... - AOL

   www.aol.com/news/trade-lot-cryptocurrency-irs...

   Cryptocurrency has been on an upward trajectory for years, but the pandemic really seemed to kick things into high gear for the virtual currency boom. Bitcoin recently eclipsed $60,000 for the ...