The US Internal Revenue Service (IRS) issued updated guidance for calculating taxes owed on cryptocurrency holdings yesterday. It’s the organizations first update in five years and it asks more questions than it answers. In short, the IRS has firmed its stance that cryptocurrency should be taxed under the same rules as any other property or capital gains. There’s nothing new here in that respect. As cryptocurrency policy think tank Coin Center states, there are some good things to come of this update, but there are some bad, too. It also raises some questions, which suggests the IRS still doesn’t “get”…

This story continues at The Next Web

The IRS’ latest cryptocurrency tax guidance shows it still doesn’t get it
Source: The Next Web