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Only time will tell whether, and if so which, virtual currencies become a.
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Virtual currencies work much like regular money, allowing to purchase goods and services. Here is where it gets a little confusing. Virtual currency, or virtual money, is a type of unregulated, digital money, which is issued and the virtual currency is akin to a coupon. It is stored and transacted only through designated software, mobile or computer applications. Virtual currencies such as bitcoin represent an innovation in financial services products and technology that has the potential to support more efficient and transparent global commerce.
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Taxpayers transacting in virtual currency may have to report those transactions on their tax returns.
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Virtual currencies work much like regular money, allowing to purchase goods and services.
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