Financial Powers Cautious About Bitcoin Taxation

Law360, New York (February 10, 2014, 6:50 PM ET) -- The world’s financial powers say their hands-off approach to taxing digital currencies such as Bitcoin will help the technology grow organically, but their collective inaction could instead be its greatest threat.

More than 1 million people around the world own part of Bitcoin's $12 billion market cap, and the Internal Revenue Service has not yet issued guidance about how it will treat the booming world of digital currencies. The United States is not alone: Each member of the G-20 has yet to publish its own regulations detailing how...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers

Required