Regulations
By Steven Anderson
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Regulations which do not restrict innovation or growth should be established, and cryptocurrency regulations are no exception to this need.
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Cryptocurrency adoption is increasing among retail investor, institutional investors, Big Tech companies, businesses and individuals, and all of them have a dire need to know…
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In the US, taxpayers are very clear about treating their property as a holding for taxation per the 2014 document published by the IRS.
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Hard forks are typical in cryptocurrency holdings. Hard forks are high profile splits will lead to the creation of newer cryptocurrencies.
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In cases of those who are holding private keys to the original coin, they will be facilitated to contain equal numbers of the newer tokens to the unique tokens.
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Forks are basically created in order to enhance the value of the original coin by creating the scarcity element.
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Investors would like the IRS to elaborate on the approaches to cost basis in a different way for each person.
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Taxpayers are currently following the prudent move of recording every move in their cryptocurrency transactions in order to maintain an audit trail.
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