First came the Crypto Crash. Now comes the IRS.
The cryptocurrency rout worsened this week with the collapse of offshore exchange FTX. With bitcoin recently down more than 60% in 2022, many crypto investors would surely like to forget about digital assets, at least for now.
It would be a mistake. The Internal Revenue Service hasn’t lost interest in cryptocurrencies and investors need to focus on major tax issues before the end of the year.