Cryptocurrency Taxation and Regulatory Updates
Cryptocurrency Taxation: Cryptocurrency, like Bitcoin or Ethereum, is considered property by many tax authorities, including the IRS in the United States. This means that it's taxed somewhat similarly to other forms of property, like stocks or real estate.
Capital Gains: When you sell cryptocurrency for more than you paid for it, you make a capital gain, which is taxable. For instance, if you bought Bitcoin at $10,000 and sold it at $15,000, you'd have a $5,000 capital gain that you'd need to report on your taxes.
