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It matters because if it is just a currency then you shouldn’t be taxed on its appreciation. Right now if you say sold $100 in product and now have $100 worth o
by smaryjerry 5y ago
It matters because if it is just a currency then you shouldn’t be taxed on its appreciation. Right now if you say sold $100 in product and now have $100 worth of bitcoin, but then the price of bitcoin doubles and you have $200 in USD of bitcoin, then you have to pay taxes on the $100 appreciation if it is a security. The way it gets taxed will make it a currency or not.