As I understand it, the main difference is that, if it were currency, you’d need to go though a lot of regulation to process it, keep it and change it with doll

As I understand it, the main difference is that, if it were currency, you’d need to go though a lot of regulation to process it, keep it and change it with dollars. I doubt the IRS can influence SEC and the Financial commission into the finer points of Legal tender. What they say is: no matter that, these things are like stock, and we feel the right to tax your profits on trading them. Sounds reasonable to me. Put otherwise: it sounds like when a lawyer (or The Dude) says that you are “an asshole”. Most lawyers don’t really have the moral standing to accuse anyone of that, but what they are saying is: my qualifications are telling you what is legal and what isn’t, and this unsavory action isn’t illegal. IRS is saying: BitCoins are not just to pay for your groceries, they are a way to store and accrue value; they have no standing on how convenient they are or should be to buy groceries.