How does the IRS treat cryptocurrency gains?

Could you elaborate on how the Internal Revenue Service (IRS) approaches the taxation of cryptocurrency gains? Specifically, I'm interested in understanding if they treat it similarly to other assets, such as stocks or bonds, or if there are unique considerations. Are there any specific rules or guidelines the IRS has set for calculating taxable gains on cryptocurrency transactions? Furthermore, are there any specific filing requirements for cryptocurrency earnings that differ from traditional assets? Understanding these details is crucial for those seeking to ensure they comply with all tax obligations related to their cryptocurrency holdings.