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 representation of value recorded on a cryptographically secured, distributed ledger (blockchain) or similar technology.” This definition can also be found in the 2021 Infrastructure Investment and Jobs Act. Merriam WebsterContinue reading “A Primer on Cryptocurrency and Policy Frameworks”
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Cryptocurrency Overview and Policy Frameworks
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”
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”
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