A proposal has been made by one of one of the US Representatives to introduce a 5-year moratorium period on digital currency regulation in the US. As per the bill submitted by to the Congress, any statutory restrictions or regulations on digital currency should be hold off for five years starting 15th June 2015 in order to use the above period to fully access and examine the potential economic benefits of digital currencies.Read More »
Tag: IRS
USA – tax regulation of bitcoins and other crypto currencies
IRS (internal revenue service), the US tax authority, published this year (March 25, 2014) a clear guidance (Notice 2014-21) on how the tax principles apply to transactions involving bitcoins and other crypto currencies. It is not a new law but just an interpretation of how the existing law should be applied to the new technology. It describes how Bitcoin and other crypto currencies transactions should be taxed. Read More »
Michaela Merz 