US tax watchdog classifies NFT as digital belongings for tax functionsThe Inner Income Service (IRS) has categorised NFTs as digital belongings alongside stablecoins and implication is that buyers will likely be required to report their NFT revenue for tax…
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In line with the IRS, digital property are “digital representations of worth which are recorded on a cryptographically secured distributed ledger or any related For instance, digital property embody non-fungible tokens (NFTs) and digital currencies, comparable to cryptocurrencies and…