Today we're diving into the intricate world of cryptocurrency tax with our guest, tax expert Matthew Foreman, Partner and co-chair of Falcon Rappaport & Berkman's Taxation Practice Group. We explore challenges and solutions for handling large volumes of crypto transactions, emphasizing the importance of accurate record-keeping to avoid IRS scrutiny. Our conversation covers the intricacies of wash trading and its implications in the crypto market, the tax treatment of crypto as property, and the pressing need for comprehensive regulation from Congress. We also discuss the logistical challenges of tracking numerous trades and the potential impact of new legislation on the crypto space.

Together, we’ll delve into real-world tax implications on cryptocurrency regulation. Like and subscribe to stay informed about the latest in web3 and crypto tax compliance!

Matt is the host of Falcon Rappaport & Berkman's podcast How Tax Works, where he unravels the complexities of tax law. Learn more:
https://frblaw.com/podcast-category/how-tax-works/

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Please note that this show is meant for informational and entertainment purposes only. This is not legal advice. Please hire your own attorney. The hosts or guests appearing on Block and Order may hold cryptocurrency, NFTs, or other digital assets from companies mentioned during our programming. This possession of digital assets does not constitute a professional endorsement, legal advice, or financial advice. Listeners are encouraged to consult with their own legal and financial advisors for personalized guidance in the blockchain and cryptocurrency space.