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Sidney Kess Sidney Kess

Virtual currency, also known as cryptocurrency or digital currency, is an online medium of exchange. Bitcoin is perhaps the most well-known virtual currency, but there are now more than 2,200 such currencies being publicly traded. According to CoinMarketCap, as of Oct. 22, 2019, the total global capitalization of cryptocurrency exceeded $223 billion. Virtual currency is being used for investment and accepted as payment for goods and services by a growing number of businesses. From a tax perspective, the rules for the taxation of virtual currency are emerging.

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