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Here???s what you need to know. If demand for cryptocurrency weakens, prices could fall sharply. This is because cryptocurrencies are not backed by tangible gold or silver. Crypto is borderless, which makes it easier, faster, and cheaper to carry out worldwide transactions. A28. When you receive cryptocurrency in exchange for property or services, and that cryptocurrency is not traded on any cryptocurrency exchange and does not have a published value, then the fair market value of the cryptocurrency received is equal to the fair market value of the property or services exchanged for the cryptocurrency when the transaction occurs. * Please note the terms and definitions are constantly reviewed and may change based on developments in the crypto space. Please also be aware that a crypto scam may incorporate elements of multiple types of scams. |
