Few Americans Reporting Cryptocurrency Gains

Posted by Kyle 10:22 AM (CST)

Tuesday February 13, 2018

File this under "Shocking." It seems that while a survey shows that 57% of cryptocurrency investors and miners realized some sort of gains, not many of those are reporting it to the IRS, only 0.4%. While all the crazy things going on my crypto lately, this alone will likely invite swift regulations to be put in place. Last week we saw, Bitcoin fall below $6000 last week, this week has shown a solid rebound as it is back up to over $8500 according to CoinDesk.

NEW YORK (Reuters) - Less than 100 people out of the 250,000 individuals who have already filed federal taxes this year through company Credit Karma reported a cryptocurrency transaction to U.S. tax authorities, the company said on Tuesday.