The market for cryptocurrency tax services is growing rapidly, and it is providing forward-thinking tax professionals with an opportunity to capture oversized profits.While we’ve seen the market cap of bitcoin and other cryptocurrencies dramatically fall from around $800 billion at its height to around $200 billion today, the number of developers, traders, companies and professionals joining the larger cryptocurrency and blockchain ecosystem has continued to increase in spite of this “crash.”What Does This Mean?For starters, it means that blockchain and crypto are very real technologies that aren’t going away anytime soon. Second of all, it means that the services, companies and professionals that are focused on providing support and infrastructure to the larger crypto market are seeing their demand curves go up and to the right; that is, they are increasing. This is true for those that provide cryptocurrency tax services.This begs the question: What does the future of cryptocurrency taxes look like? In the United States, various agencies are still grappling with this question.Are Cryptocurrencies Securities?The first piece to nail down when looking into this question is the security one. Whether or not the IRS and government will continue to tax crypto the way that they currently do (as property similar to stocks) depends largely on if they see it as a security. The SEC noted earlier this summer that ...
