IRS modifies 2014 guidance that said digital currency was not legal tender in any jurisdiction

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April 26, 2023
2023-0757

Due to law changes in foreign jurisdictions that characterize Bitcoin as legal tender, the IRS has updated (Notice 2023-24) earlier guidance (Notice 2014-21) to remove a sentence that described digital currency as "not having legal tender status in any jurisdiction."

Published by NTD’s Tax Technical Knowledge Services group; Carolyn Wright, legal editor

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