December 2018 JD Supra

Possession of virtual currency, also known as cryptocurrency, is legal in the U.S. as well as many other parts of the world. The most well-known form of virtual currency is Bitcoin. There are other virtual currencies that function in the same manner as Bitcoin and are known as alternative coins or alt coins (Litecoin, Peercoin, Feathercoin and Ethereum). https://www.jdsupra.com/legalnews/bitcoins-and-the-irs-reporting-and-32557/