Taxation of Cryptocurrency The IRS recently issued Rev. Rul. 2023-14 which offers guidance on the tax treatment of rewards cryptocurrency holders may receive from proof of stake blockchain validation. Under the recent IRS guidance regarding the taxation of cryptocurrency, cryptocurrency holders who engage in proof of stake blockchain validation will recognize a taxable gain when
Crypto Losses on Taxes The cryptocurrency and NFT (non-fungible token) booms pushed markets to dizzying highs and devastating lows. What was once seen as a stellar investment now appears to be on the decline, and some people are considering getting out of the crypto market entirely. Selling at a loss, however, is an unpleasant prospect.