Bitcoin Users Should Expect More IRS And DOJ Scrutiny

By Mark Milton, Husch Blackwell LLP (January 30, 2017, 6:23 PM EST) -- As partygoers rang in 2017, owners of bitcoins had a special reason to celebrate: the value of the digital currency was approaching $1,000.

While the value of bitcoins has come down a bit since the new year — with a single bitcoin trading at around $900 USD as of the publication of this article — the surge in their price, up from around $200 two years ago, may provide additional fodder for the U.S. Internal Revenue Service, which has its crosshairs on those who do not properly report their income related to the buying and selling of digital currencies.

As demonstrated...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!