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Second Life is a social game with a virtual economy where players buy and sell goods using Linden Money.Guidance for a Risk-based approach to virtual currencies. emerging best practices to address regulatory issues arising in respect of ML/TF risks associated.
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The Internal Revenue Service on Tuesday announced that bitcoin and other virtual currencies are treated as property, not currency, for federal tax purposes.
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A taxpayer who receives Bitcoin or Linden dollars in exchange for goods and services has to record the fair value of the virtual currency in US dollars as of the date it was received.
Cyber currency bursts mainstream - SMH.com.au(Update: Cryto-Currency Bubble Continues: Litecoin Surpasses Billion Dollar Market Capitalization) With Bitcoin passing $1000 this morning (it has since.In addition, virtual currency used for investing is regarded as a capital asset and is therefore subject to tax on its capital gains or losses.
The top five best read stories once again covered a wide range of virtual currency topics,. And what about mining for other virtual currencies?.FinCen, the U.S. Financial Crimes Enforcement Network, recognized Linden Money as a convertible centralized virtual currency in 2013.If you would like to have your startup considered for inclusion, please see the details here.
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