As a completely new asset class, the laws governing cryptocurrency taxation have not always been clear. But over the last few weeks, several world governments have revealed their intentions to simplify and streamline the process of paying tax on cryptocurrency transactions. In the United States, a House Ways and Means committee serving the Internal Revenue Service (IRS) has called for clearer definitions on how transactions in cryptocurrency should be taxed. Although cryptocurrency is treated as property for the purposes of tax, the calculations required can be complicated, and a report earlier this year found that a ... (full story)