

IRS declares that Bitcoin will be taxed as property - ThomPete
http://gigaom.com/2014/03/25/irs-declares-that-bitcoin-will-be-taxed-as-property/

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timrosenblatt
This is rad. Instead of paying a currency tax rate, you can pay the
lower/long-term capital gains rate.

Does this mean that Bitcoin are more legit now and will be picked up by more
institutions, or since the IRS doesn't consider Bitcoin a currency, will that
stop companies from using it (for regulatory reasons?)

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atmosx
No I don't think it really means anything for larger institutions (banks?). We
don't have an easy way to switch back and forth from bitcoin to USD, until
that happens... Not sure how plausible is the expectation that BTC will see
wider adoption, since it didn't happen already.

