It’s become a familiar narrative: The government has cracked down on virtual currency by seizing bitcoins, but that’s not the only bad thing.
What we don’t know is if the feds will continue to go after the most popular virtual currency—which is still legal in most states—or if new regulations are set to make the bitcoin economy more dangerous and regulated.
Here’s what we do know.
Bitcoin is the most valuable currency in the world, with a market cap of over $5 trillion.
Bitcoin accounts for only about 5% of the global value of all goods and services.
In the US, the bitcoin market cap is now more than $30 billion.
But if we just look at the dollar value of the virtual currency industry, the market cap balloons to $65 billion, and it could reach $100 billion within a year.
The government is not currently targeting bitcoin.
The US government is using the virtual currencies to fight tax evasion, cybercrime, terrorism, and tax evasion.
The bitcoin market is considered a tax haven for Americans.
The FBI has confiscated bitcoins worth over $600 million from over 200 Americans in recent months.
The seizures are part of a crackdown on the black market, which has been targeted by the FBI.
Bitcoin has become a favorite target for the IRS.
The agency has used virtual currency and other forms of digital money to target Americans and businesses.
The IRS has used these seizures to collect $2.5 billion in cash, a total of more than 3.3 billion dollars in seized cash.
The virtual currency is used to buy real estate, car loans, jewelry, and more.
It’s also used by criminals and other criminals.
The Federal Reserve has said that it will continue investigating virtual currencies, but has not yet ruled out regulation.
Bitcoin’s popularity is growing rapidly, and the price of the currency is expected to continue to climb.
A number of companies are offering services to sell bitcoin.
In 2019, the IRS has proposed the first Bitcoin tax holiday, which would give people who hold virtual currency a 10% tax cut, while making it illegal to spend the currency in certain states.
In March 2018, the Treasury Department issued a proposed rule to address virtual currencies.
A few years ago, virtual currency was considered illegal, but it is now regulated.
The first virtual currency tax holiday took effect in February 2018.
The Securities and Exchange Commission has issued a rule that would make it harder for companies and individuals to use virtual currency for illicit purposes.
In 2018, a group of US senators wrote to Attorney General Jeff Sessions to express concern about the dangers of virtual currencies and how the IRS could use them to target American citizens.
The letter was signed by Sens.
Ted Cruz, Mike Lee, Ron Wyden, and Mike Lee.
The SEC is also considering new regulations that could potentially put virtual currencies under tighter scrutiny.
The Department of Homeland Security has announced plans to conduct a “wide-ranging” review of virtual currency companies.
And, in October 2018, The New York Times reported that the IRS had “taken an aggressive stance” against virtual currency.
A recent survey by the Pew Research Center found that about half of Americans—53%—said that the bitcoin and other virtual currencies are a legitimate form of money.
If bitcoin were to be taken off the market, it could result in a lot of financial damage.
Many bitcoin miners and businesses would shut down, and that could cause a lot more havoc than the bitcoin bubble itself.
And some economists are worried about the impact virtual currency could have on the economy.
One of the authors of a recent paper on virtual currencies in the Economic Policy Institute, Mark Krikorian, said that the impact could be negative.
“It’s not a bubble,” he told the Wall Street Journal.
“If you take bitcoin out of the equation, the whole ecosystem becomes unstable.
And that’s a bad thing.”
If the virtual market does collapse, there is little the government can do.
There is no clear regulatory framework in place to prevent the virtual economy from exploding.
For now, the US government has seized the digital currency market and is not targeting it, but if the virtual sector continues to be regulated, the government could be targeting some of the most important digital currency markets in the US.