U.S. agencies and lawmakers are finally shaping policies concerning cryptocurrency. The result could change investors’ options significantly.
Cryptocurrency has offered a lot to investors – including sky-high returns amid a lack of regulation. In what experts claim might stabilize crypto’s market and protect its investors, the digital asset’s Wild West days may be ending in the U.S.
Right now, regulatory control differs across American federal government agencies; cryptocurrency is treated as “property” for tax purposes, resembling in many ways stock. Some say cryptocurrency reporting also resembles a Foreign Bank Account Report in that both are priorities for IRS attention and both require care in reporting.
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