The IRS took a stand yesterday on Bitcoin, declaring that it would treat the digital currency as property, not currency, for tax purposes. “The Internal Revenue Service may have just taken some of the fun out of Bitcoin,” declared The New York Times. Yet, in the minds of many Bitcoin proponents, not only is the fun still ahead, but the guidance from the federal government is welcomed. In fact, they’d like more of it.
Why Bitcoin Entrepreneurs Are Begging for More Regulation
Clarity is needed to bring banks into the game.
March 26, 2014
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Strengthen your fluency in financial statements.