Until late 2019, the IRS had released very little guidance on the tax treatment of what it refers to as “virtual currency” except Notice 20141, which defined virtual currency as “property,” like ...

Virtual currencies are common forms of financial activity. A quarter into the 21st century, the average individual has become aware of (and often comfortable using) things like Apple Pay, digital ...

The New York Department of Financial Services (NYDFS) proudly announced an “update on [its] two-year transformational initiative to strengthen NYDFS’ nation-leading virtual currency oversight” on ...

“Making payments with virtual currency has emboldened taxpayers to move money offshore, purchase illegal goods and services, and carry out other nefarious activities. Users may feel there is the ...

As digital technology continues to evolve, the financial industry is undergoing a transformative shift with the rise of virtual currency. With its ability to streamline transactions, reduce costs, and ...

Virtual currency includes any type of digital unit that is used as a medium of exchange or a form of digitally stored value. It includes digital units of exchange that: Have a centralized repository ...