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b8zgwyg649

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While BTC and ETH are the driving force behind the new bull market in crypto, many other currencies will benefit from these trends. Investing in coins like BIG before they reach the market through presale means that traders are able to jump on this before it becomes inaccessible, and ride this currently limitless wave upwards to join those who invested in BTC early at the top. Investors with a long-term view should start looking at this as a buying opportunity for high-quality cryptocurrencies. Despite the downturn in token values, the crypto industry continues to grow and innovate, which is ultimately what's going to drive value. CME Group is set to expand its Bitcoin and Ethereum product lineup from May 22 &8211; subject to regulatory approval. Although cryptocurrencies are considered a form of money, the Internal Revenue Service (IRS) treats them as financial assets or property for tax purposes. And, as with most other investments, if you reap capital gains selling or trading cryptocurrencies, the government wants a piece of the profits. How exactly the IRS taxes digital assets—either as capital gains or ordinary income—depends on how long the taxpayer held the cryptocurrency and how they used it.

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