United States: IRS Issues New Guidance On Cryptocurrencies For The First Time In Four Years

IRS Issues New Guidance On Cryptocurrencies For The First Time In Four Years – Fin Tech – United States

On October 9, 2019, IRS released Revenue Ruling 2019-24, 2019-44 IRB 1, 1 which provides new guidance on the Service’s handling of cryptocurrencies and is the first of such guidance to be released since March 2014 when IRS issued Notice 2014-21. 2 The ruling was issued after prodding from a bipartisan congressional coalition.