Did you buy or sell bitcoin in 2019? Be ready to pay taxes for it in 2020. On Oct. 9, the IRS released a ruling and a frequently-asked-questions document that provides updated direction about the tax obligations for cryptocurrency users. In the past, all digital assets were taxed as property, a broad distinction that taxed all cryptos as a singular asset class, irrespective of use case or intent. As many noted, this system failed to account for the specific use cases of today’s crypto assets, and it made many applications a logistical nightmare. Now, there is a bit more nuance. For example, rather than subjecting all

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