Despite a Twitter-user outcry, and loss of value for some cryptocurrency-related assets, market observers point out that this matches IRS treatment of cash transactions.
Price roller-coaster underscores that because bitcoin has no underlying profit streams or interest payments, it's inherently a speculative bet on future market trends.
China's trial issuance of a digital yuan has some officials concerned about whether the dollar will remain the world's dominant reserve currency in the long term.
Treasuries should be preparing for the dramatic impact digital fiat currencies may soon have, on both their financial statements and their organizational structure.