Tax partner Jim Brown and tax associate Franziska Hertel authored a recent Tax Notes Special Report article, in which they analyzed whether the commodity trading safe harbor is available to foreign investors engaging in virtual currency trades. The IRS has taken an interest in the developing tax implications and laws associated with the taxation of virtual currencies including bitcoin and BlockChain. Disputing Tax has previously reported on this topic as seen here.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.