Tax Implications Of Concluding Transactions Using Virtual Money
In an article published last year, Bill Schuette, who currently serves as the Attorney General in the state of Michigan, advised his residents concerning the risks that are associated with the use of virtual money. Indeed, while it is the case with hard money, virtual money insurance doesn't exist. This means that if your virtual money gets stolen, you won't be able to submit a claim to the third-party through which you have purchased it and that was holding it for you.
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