Bitcoin Forks and Livestock Law? Tax Day 2018 Is a Different Animal
U.S. income tax treatment of forks is unclear. A conservative approach would be to treat the receipt of new cryptocurrency as taxable ordinary income.
Forks
The proposed fork will see 12.5 percent of block rewards diverted to a new BCH-specific development fund. Reactions have been mixed.
Bitcoin cash devs are fighting over what code changes to make next. If no one compromises, hard-forked coin could itself split into two.
An old debate is resurfacing in the bitcoin developer community, underscoring one of the critical challenges confronting decentralized systems.
Introducing on-chain governance to crypto networks is likely to make them more like nation-states with the inefficiencies that entails.
Real-world assets will force a change in blockchain governance, writes EY's Paul Brody. Forks will still be possible, but will attract fewer users.
