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If you do not control the private keys, it is cryptocurrencies that perform specific functions.
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If you do not control the private keys, it is cryptocurrencies that perform specific functions.
Create Account. Related Articles. Although the IRS response above says that virtual currency paid to an employee in exchange for services are wages for federal employment tax purposes, the DOL response references its regulations that suggest wages should not be paid in the form of virtual currencies. Also, Stripe will continue to handle all compliance requirements and generate tax forms for recipients paid in crypto. One of the primary reasons cryptocurrencies were developed was to be used as anonymous payments.
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