amelia_miller_designer
Sun Jun 09 2024
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6 answers
1706
Does crypto count as cash?｜In the U.S., , and the IRS treats it generally like stocks, bonds, and other capital assets.crypto is considered a digital asset
Does cryptocurrency qualify as cash? It's a question that often comes up in discussions about digital currencies. In the United States, the Internal Revenue Service (IRS) generally treats cryptocurrency similarly to stocks, bonds, and other capital assets. This means that when it comes to taxes, crypto is considered a digital asset rather than a form of cash. But does this treatment reflect the true nature of cryptocurrency? Can it be used as a medium of exchange like traditional cash? Or is it more akin to an investment asset with potential for appreciation? These are just some of the questions surrounding the categorization of cryptocurrency, and the answers may vary depending on specific contexts and regulations.
