When it comes to tax regulations in the USA, virtual currencies are judged as assets. In particular, cryptos are handled as capital assets; they include bonds, stocks and other forms of investment properties. In 2014, the American Internal Revenue Service (IRS) issued a notice; as long as cryptocurrencies can be converted to fiat currencies, they shall be in the same category as assets for the tax filing purposes. Therefore, capital gain taxes ought to pay by any individual trading with cryptocurrencies. It is also important to realize that fiat currency is the only acceptable form of tax payment.
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