Virtual Currency Guidance

Digital assets | Internal Revenue Service

You may have to report transactions with digital assets such as cryptocurrency and non-fungible tokens (NFTs) on your tax return. Income from digital assets is ...

Frequently asked questions on virtual currency transactions - IRS

You must report ordinary income from virtual currency on Form 1040, U.S. Individual Tax Return, Form 1040-SS, Form 1040-NR, or Form 1040, Schedule 1, Additional ...

Virtual Currency Businesses - Licensing and Resources

To conduct virtual currency business activity in New York State, entities can either apply for a BitLicense or for a charter under the New York Banking Law.

OFAC's Sanctions Compliance Guidance for the Virtual Currency ...

Virtual currencies are beginning to play an increasingly prominent role in the global economy. The growing prevalence of virtual currency as ...

Virtual Currency Guidance - Texas Department of Banking

Virtual Currency Guidance · June 10, 2021: Authority of Texas State-Chartered Banks to Provide Virtual Currency Custody Services to Customers · Supervisory ...

Industry Letter - April 28, 2022: Guidance on Use of Blockchain ...

Virtual Currency Guidance ... Financial activity involving virtual currency can involve, among other things, different sources, destinations, and ...

Questions on Virtual Currency - Office of Foreign Assets Control

Blocked virtual currency must be reported to OFAC within 10 business days, and thereafter on an annual basis, so long as the virtual currency remains blocked.

Guidance for a Risk-Based Approach to Virtual Currencies - FATF

This Guidance is intended to explain the application of the risk-based approach to AML/CFT measures in the VC context; identify the entities involved in ...

Guidance FIN-2013-G001 Issued: March 18, 2013 Subject ... - FinCEN

and “exchangers,” all as defined below.2. A user of virtual currency is not an MSB under. FinCEN's regulations and therefore is not subject ...

FinCEN Civil Enforcement and Virtual Currency - Bloomberg Law

The guidance noted that “users” of virtual currency—i.e, those who obtain virtual currency to purchase goods or services for personal use—are not subject to ...

FinCEN Proposes New Regulation to Enhance Transparency in ...

“Today's action underscores Treasury's commitment to combatting the exploitation of Convertible Virtual Currency mixing by a broad range of ...

FinCEN Issues guidance to synthesize regulatory framework for ...

... Money transmitter, Convertible virtual currency (CVC),. Anti-money laundering ... guidance that FinCEN has released since its 2013 guidance on the application of ...

Virtual Currency Regulation

In its first guidance on virtual currency, FinCEN defined the parties in virtual currency transactions and identified those considered money services ...

Digital assets and virtual currency tax guidance and resources

Below is a consolidation of guidance and resources to help you navigate the tax complexities of digital asset reporting.

Virtual Currency Tax Compliance Enforcement Can Be Improved

Source: Treasury Inspector General for Tax Administration's (TIGTA) review of the IRS's guidance related to virtual currency and digital assets.

Virtual Currencies: Additional Information Reporting and Clarified ...

IRS's virtual currency guidance, issued in 2014 and 2019, addresses some questions taxpayers and practitioners have raised. For example, it ...

Digital Assets | CFTC

This downloadable brochure is a quick guide to virtual currencies that covers how virtual currencies can be purchased, why they are considered commodities, and ...

VIRTUAL CURRENCY GUIDANCE - TN.gov

The Tennessee Department of Financial Institutions does not regulate virtual currency. Tennessee's Money Transmitter License and the required surety bond do ...

Virtual Currency, Cryptocurrency, and Digital Assets Information for ...

Although the virtual currency and digital asset space has matured, many of the same risks remain. This guidance is meant to combine information ...

Virtual Currency: What Consumers Need to Know - State of Michigan

Consumers looking for further information or guidance can contact the. Attorney General's Consumer. Protection Division. DIFS. 877-999-6442. DIFSINFO@michigan.