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| JACK DORSEY: Bitcoin will become the world's 'single currency' In an interview with The Times of London, Jack Dorsey - the serial entrepreneur behind payments company Square and social media giant Twitter - said he thinks there will be one "single currency" one day. And that currency will be bitcoin. "The world ultimately will have a single currency, the internet will ...
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| IRS Virtual Currency Amnesty? Not So Fast! Bitcoins are not a currency. They are considered personal property and taxed as a capital asset. If a Bitcoin is converted into currency and there is a gain, it is subject to capital gain. If goods or services are purchased with Bitcoins, the taxpayer must also account for the gains. A taxpayer that receives ...
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