Language

What does Bitcoin have to do with taxes?

2025-06-06 23:00:29

Bitcoin is not legal tender and has no legal tender status in any jurisdiction, but is often subject to tax obligations regardless of the medium used. In many different jurisdictions, there are various laws and regulations regarding income, sales income, wages, capital gains, or some other form of tax liability generated from Bitcoin.

What is Bitcoin?

Bitcoin is a decentralized digital asset. It is a new type of asset that sits alongside traditional assets such as cash, gold, and real estate.

Who created Bitcoin?

Bitcoin is the first currency that implements the concept of "cryptocurrency". In 2009, Satoshi Nakamoto published the first Bitcoin specification and its proof of concept on the cryptography mailing list.

Introduction to Bitcoin

On October 31, 2008, Satoshi Nakamoto first proposed the concept of Bitcoin. On January 3, 2009, he developed the first client program to implement the Bitcoin algorithm, and the first Bitcoin was born.

How Bitcoin Was Created

Bitcoin is a cryptocurrency based on decentralization, adopts peer-to-peer networks and consensus initiative, open source code, and uses blockchain as the underlying technology.

Introduction to Bitcoin trading methods

Here we only introduce the on-chain transaction method of Bitcoin. The transaction initiator creates a transaction and signs the transaction with a private key. This signature indicates the permission of the Bitcoin owner to the transaction and also ensur