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Will the IRS Come After Your Bitcoin Soon?
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investopedia.comPeople who profited from their cryptocurrency investments will have a new challenge to navigate soon: the IRS and taxes.
While real-world monetary authorities may be finding it hard to regulate cryptocurrencies, that does not stop tax authorities from collecting the capital gains tax on the profits from virtual currency trading, investments, and dealings.
However anonymous the cryptocurrency market may be, if you’ve made profits from the big spikes in their valuations, then Uncle Sam may be knocking on your door soon to collect a significant share of your profits in the form of taxes.
One of the world’s largest cryptocurrency exchanges, Coinbase, was ordered by the IRS in late 2016 to hand over transaction-related data on more than 14,000
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