> “As with cash transactions, businesses that receive cryptoassets with a fair-market value of more than $10,000 would also be reported on,” the Treasury Department said in a report on tax-enforcement proposals released Thursday.
Nothing to see here. It's part of a pattern of explicitly stating that for regulatory purposes, Bitcoin works like a currency, but for tax purposes Bitcoin works like an asset.
Nothing to see here. It's part of a pattern of explicitly stating that for regulatory purposes, Bitcoin works like a currency, but for tax purposes Bitcoin works like an asset.