Today on HSRL
The IRS and SEC wants control over crypto.
The IRS validates it as an asset by taxation and the SEC wants to classify it as a security. However, bitcoin is more akin to gold, which is a commodity.
Now, the very nature of bitcoin is interfering with government infrastructure. The Biden Administration’s infrastructure bill calls for crypto to pay in to the IRS. Doing so depends upon how brokers are defined, which confuses how transactions are reported to the IRS.
Objections to bitcoin by traditionalists are that crypto is speculative. The reality is that this new form of money shifts the balance of power.
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