Welcome crypto investors!
If you are an investor in the United States, there are a few key things to be aware of when it comes to cryptocurrency.
First and foremost, the IRS has recently issued guidance on how to report cryptocurrency transactions. This includes how to report capital gains or losses, and how to determine the cost basis of a cryptocurrency investment. You’ll want to ensure that you are compliant with these new guidelines.
Additionally, the SEC has issued guidance on the registration requirements of cryptocurrency exchanges. If you are trading on an exchange, you should make sure that it is registered with the SEC.
Finally, many states have issued their own guidance on how to handle cryptocurrency transactions. You should make sure you are aware of any state-specific regulations that apply to you.
Thanks for watching, and happy investing!