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But: "For U.S. tax purposes, digital assets are considered property, not currency." https://www.irs.gov/businesses/small-businesses-self-employed/digital-assets

by krunck 2y ago

But: "For U.S. tax purposes, digital assets are considered property, not currency." https://www.irs.gov/businesses/small-businesses-self-employed/digital-assets https://www.irs.gov/businesses/small-businesses-self-employe... I wonder about digital assets "for constitutional purposes" though?

ty6853 2y ago
They are considered property because making it a taxable event every time you spend it sabotages its use as a currency, and the state knows that. Customers do not want to have to keep a log of every time they buy a pack of gum.