Crypto.com Arena only accepts and scans tickets off a mobile device if they are within an approved AXS, Venue or Team Application. Screenshots or a printed copy of a mobile QR code will not be accepted. For more information please visit our AXS Mobile ID FAQ page or contact the box office at [email protected]. Recent bitcoin news Cryptocurrencies represent an internet-based medium of exchange that takes advantage of cryptographical functions in order to conduct financial transactions. They leverage blockchain technology to achieve decentralization, immutability, and transparency.
Although cryptocurrencies are considered a form of money, the Internal Revenue Service (IRS) treats them as financial assets or property for tax purposes. And, as with most other investments, if you reap capital gains selling or trading cryptocurrencies, the government wants a piece of the profits. How exactly the IRS taxes digital assets—either as capital gains or ordinary income—depends on how long the taxpayer held the cryptocurrency and how they used it. Service Navigation Among the main elements: do not make crypto assets legal tender or official currencies. Clarify and consistently apply laws, standards, and regulations including for anti-money laundering and financing terrorism. Establish clear tax rules. Provide a solid legal foundation with a clear classification of crypto assets. And coordinate policies globally to avoid regulatory arbitrage, since crypto asset providers can relocate at the click of a button.