Zach Copley

Just in time for tax day (April 15 in the United States), the Internal Revenue Service has issued six pages of guidelines (PDF) detailing how it considers the legality of Bitcoin and other “virtual currencies.”
Specifically, the document, which was published on Tuesday, designates that Bitcoin will be treated for tax purposes as a property and not as a currency.
That would make it roughly analogous to a stock, bond, or piece of real estate whose value fluctuates over time and would be subject to a capital gains tax when that property (Bitcoin, or another similar altcoin) were to be sold at a profit or loss.
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