CRYPTOCURRENCY AND TAXES: HOW DOES TAXATION WORK ON IT?

Written by Taher Kameli & Shabnam Mahammadli

Cryptocurrency is a digital representation of value that can serve as a medium of exchange, a unit of account, and a store of value.[1] Although often held for investment purposes, the IRS has acknowledged that cryptocurrency may also be used in a manner similar to “real” currency, namely, to pay for goods or services…