Bitcoin is now taxable,
anyone head about it?
Bitcoin is now taxable,
anyone head about it?
Of course it is. Per: Veazie Bank v. Fenno, 75 U.S. 533 (1869)Originally Posted by edward222
"It cannot be doubted that under the Constitution the power to provide a circulation of coin is given to Congress. And it is settled by the uniform practice of the government and by repeated decisions, that Congress may constitutionally authorize the emission of bills of credit. ... Having thus, in the exercise of undisputed constitutional powers, undertaken to provide a currency for the whole country, it cannot be questioned that Congress may, constitutionally, secure the benefit of it to the people by appropriate legislation. To this end, Congress has denied the quality of legal tender to foreign coins, and has provided by law against the imposition of counterfeit and base coin on the community. To the same end, Congress may restrain (TAX), by suitable enactments (Title 26), the circulation as money of any notes (OR other forms of money) not issued under its own authority. Without this power, indeed, its attempts to secure a sound and uniform currency for the country must be futile."
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