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”
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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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