Overview
Bloomberg BNA quoted Steptoe tax partner Lisa Zarlenga in an article titled “Bitcoin, Cryptocurrency Trades Face New Liability in Tax Bill.” The article, published December 20, discusses how the sweeping GOP tax bill includes a provision that would increase tax liabilities for investors looking to exchange bitcoin, ether, and other virtual currencies that have soared in value.
Ms. Zarlenga says: “For virtual currency, it’s huge. Now any exchange of virtual currency for virtual currency will be a taxable event.”
The full article can be read at Bloomberg BNA.
