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Category Archives: Cryptocurrencies
Do You Need a License to Sell Bitcoins?
Let’s say I own some Bitcoins. I want to sell them to a friend. Do I need a license to do that? This question came up after I was informed that a Missouri man pleaded guilty to operating an illegal … Continue reading
Posted in Cryptocurrencies, FINCEN, Gambling
Tagged Bitcoins
Comments Off on Do You Need a License to Sell Bitcoins?
IRS: Bitcoins Are Property
The IRS finally released guidance on Bitcoins and other virtual currency today. The IRS’s notice states that Bitcoins should be treated as property. What does this mean? 1. Bitcoins held as investments are generally treated under capital gain rules. If … Continue reading