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U.S. Classifies Bitcoin as Property Rather Than Currency, Plans to Tax Transactions

The U.S. classifies Bitcoin as property rather than currency and plans to tax its transactions. Find the best immigration news on the Worldway Group investment immigration official website.

世贸通
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    Follow U.S. investment immigration, follow U.S. economy news: It is reported that the U.S. Internal Revenue Service (IRS) issued a notice on the 25th, classifying Bitcoin and other virtual currencies as "property" rather than "currency," and intends to levy taxes on virtual currency transactions.

 

U.S. Classifies Bitcoin as Property Rather Than Currency, Plans to Tax Transactions

 

The U.S. Internal Revenue Service stated that although virtual currencies such as Bitcoin can circulate like currency in certain circumstances, they do not hold legal tender status in any jurisdiction and are therefore not true currency in the legal sense. The Internal Revenue Service will treat virtual currency as property, and the basic tax principles related to property transactions will also apply to virtual currency transactions.

Investment involves risks, the above information is for reference only

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