<blockquote>Now, as far as bitcoins held personally (in a local wallet) the argument has been made that since they are actually “held in the blockchain” which is stored globally, that an FBAR might need to be recorded for them.</blockquote>
…and FATCA?
A very interesting article about Bitcoin, GoldMoney and their challenge to the supremacy of the US dollar, “this is quite significant. That was probably on thing on Senator Schumer’s warped little mind when he referred Bitcoin to the Justice Department for investigation recently. Schumer is always on the wrong side of absolutely everything.”
For those that like to learn things by listening, and not just reading, Planet Money did a series of stories on Bit Coin that you can find all here. They investigated and tried to understand and explain what this was all about. It culminated in a pretty good podcast on July 11th You can stream and listen online here. It is 21 minutes long, and if that is too much for you, they had a follow on story edited down for Morning Edition that was 7 minutes long. Me, I like longer!
Amusing thread here: people trying to figure out if they have to file an FBAR for their bitcoins.
https://bitcointalk.org/index.php?topic=55260.10
<blockquote>Now, as far as bitcoins held personally (in a local wallet) the argument has been made that since they are actually “held in the blockchain” which is stored globally, that an FBAR might need to be recorded for them.</blockquote>
…and FATCA?
A very interesting article about Bitcoin, GoldMoney and their challenge to the supremacy of the US dollar, “this is quite significant. That was probably on thing on Senator Schumer’s warped little mind when he referred Bitcoin to the Justice Department for investigation recently. Schumer is always on the wrong side of absolutely everything.”
https://www.caseyresearch.com/cwc/doug-casey-bitcoin-and-currencies
For those that like to learn things by listening, and not just reading, Planet Money did a series of stories on Bit Coin that you can find all here. They investigated and tried to understand and explain what this was all about. It culminated in a pretty good podcast on July 11th You can stream and listen online here. It is 21 minutes long, and if that is too much for you, they had a follow on story edited down for Morning Edition that was 7 minutes long. Me, I like longer!