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Does Bitcoin really count as taxable income? It seems like a rather novel concept, given its digital and decentralized nature. But according to the current tax rules, are cryptocurrency transactions taxed in the same manner as traditional asset transactions? I'm curious to know if this applies to all types of crypto transactions or if there are specific exceptions. And if it is taxable, how does the taxation process work? Is it similar to capital gains taxes on stocks or does it have its own unique set of rules? It would be helpful to have a clearer understanding of how this applies in practice.
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