Andrew T. Mount was quoted in a Cointelegraph article titled "Crypto Goes Plastic — Coinbase’s Visa-Approved Solution Suggests Growth."

He suggests that the tax implications surrounding a cryptocurrency debit card may make it an unrealistic option for the United States.

“The tax implications of transacting in Bitcoin in the United States could make using the Coinbase card impractical. The IRS treats Bitcoin as property that is subject to capital gains tax. Therefore, in the United States, each transaction with a card like this could be a taxable event.”

Click here to read the full article on Cointelegraph's website.

Practice Areas

Jump to Page

By using this site, you agree to our updated Privacy Policy and our Terms of Use.