> rather than a currency IANAL but tax is also levied on fiat currencies where similar profit/loss occurs. In that sense, the IRS is treating crypto like it tr

> rather than a currency IANAL but tax is also levied on fiat currencies where similar profit/loss occurs. In that sense, the IRS is treating crypto like it treats other currencies. Congress addressed this in 1986, the IRS is just administering duly enacted tax law: http://www.law.cornell.edu/uscode/text/26/988 http://www.law.cornell.edu/uscode/text/26/988