Bitcoin is a good way for people to
conduct business off the grid, but the free ride may soon come to an end. Everyone’s favorite virtual currency has been on quite a wild ride over the past few weeks. The mainstream media finally caught wind of Bitcoin and curious parties sent it skyrocketing to $220 before watching it plummet below $70 a few short days later. It has been quite a roller coaster, but all this attention may have caught the IRS’s eye, too —
Forbes contributor Robert Wood noted in a recent column that the Treasury’s FinCEN already has rules pertaining to
Bitcoin, and soon the IRS might as well.
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