Recent developments lead many to Bitcoin mining and investing in Bitcoin as many tend to believe that it is a great start for investment. Regulators and tax specialists are now looking into cryptocurrencies and how they should be treated when it comes to income taxation.
Since there are currently no set guidelines and procedures as to how cryptocurrencies are being taxed, the recent split of Bitcoin and Bitcoin Cash has caused many investors to wonder whether profits from Bitcoin Cash will be considered “free cash” in the eyes of the taxman.
A recent report from WSJ explored the question and by the looks of it, it’s still a draw.
Full story at http://bit.ly/2wB7L5A
Source: CoinTelegraph
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