When Is a Bitcoin Not a Bitcoin? When It's an Asset, Says G-20
- Countries increasingly see cryptos as an asset, not a currency
- Asset definition means countries could collect more taxes
Bitcoin: What’s Coming in the Year Ahead
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Finance ministers seeking to crack down on tax evasion this week in Buenos Aires have cryptocurrencies like Bitcoin at the forefront of their minds.
The Group of 20 countries are moving to a consensus that cryptocurrencies aren’t money after all, but an asset. That means trades potentially could be subject to capital gains tax.