US Congress Bill Seeking to Amend Tax Laws for Tokens and Cryptos (Part II)

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In 2014, the Internal Revenue Service of the US (IRS), announced that for “federal tax purposes, virtual currencies are treated as property” subject to capital gain or loss requirements. While this was great for people who were looking to store their cryptocurrencies for the long run, it made cryptocurrencies impractical when used in replacement of […]

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