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Posts Tagged ‘bitcoin taxes’

Do You Need to Pay Taxes On Bitcoin?

April 07, 2015  |   Tax Advice,Tax Scams   |   Tags: , ,  

Bitcoin is a virtual currency invented by Satoshi Nakamoto in 2008. Bitcoin uses encryption to make transactions secure and is operational worldwide. It is not, however, backed by the federal Treasury in the U.S. or by any government in the world. In a transaction of bitcoins, two people can make a transaction without an intermediary. There is no central repository or an administrator controlling the system. Due to this feature of bitcoin, the U.S. Treasury ...