This memorandum provides a foundational overview of cryptocurrency and the policy framework in place to regulate the cryptocurrency industry. Topics covered include: Download a PDF of this memo here. What is Cryptocurrency? The Internal Revenue Service (IRS) does not define cryptocurrency directly. It states, “the tax definition of a digital asset is any digital representationContinue reading “Cryptocurrency Overview and Policy Frameworks”
Tag Archives: blockchain
Stablecoin Overview
Stablecoins are a form of cryptocurrency. Cryptocurrencies are a digital representation of value that functions similarly to most currencies by providing a medium of exchange, unit of account, store of value, and rely on cryptography to secure transactions. Most cryptocurrencies do not require intermediaries or government backing. Stablecoins are a unique subset of cryptocurrency. UnlikeContinue reading “Stablecoin Overview”
Cryptocurrency and Blockchain Technology
Note: This memo is from 2022. Please see the updated memo here. This memorandum provides an overview of the functions of cryptocurrency and blockchain technology and describes relevant federal and state regulation. The appendix provides a detailed list of state action with regard to cryptocurrency and blockchain technology. Download the full memo here: Download aContinue reading “Cryptocurrency and Blockchain Technology”
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