The IRS is threatening American cryptocurrency users with audits, fines, and criminal charges, and urging owners of these currencies to file amendments to past returns, pay back taxes, and comply with fees and other punishments.
Other nations are expected to follow suit, in a coordinated global effort to defend the traditional banking system from cryptocurrencies.
CNN states the IRS considers cryptocurrencies to be investment property (like art, gold, or land), rather than currencies (like dollars and euros). This allows them to consider any positive change in value to be a "capital gains", which is subject to income taxation.
I think this is more of a threat than an attack. The intention is to dissuade the average Joe from looking into using cryptocurrencies, and to put a chill over the crypto world. I think more people are going to become interested in truly private cryptos, like Monero.
Bitcoin prices have been fairly stable at about 10k for several days, after a pullback from over 13k a few weeks ago.
"The IRS is expanding our efforts involving virtual currency, including increased use of data analytics. We are focused on enforcing the law."
Doing their best to reinforce the crumbling US Dollar hegemony.
DRutter