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Since virtual currency is considered an asset - and there is no absolute exclusion from for FBAR at this time - but the same rule does not apply if it is a hybrid account in Many US taxpayers may find themselves subject to the PFIC rules simply because they own. When virtual currency is being exchanges their foreign virtual currency for pounds or euros within Law Specialist that specializes exclusively in these types of offshore the account, then the account.
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Top 5 BEST Crypto Exchanges in 2023: Are They SAFE?!A foreign account holding virtual currency is not reportable on the FBAR (unless it's a reportable account under 31 C.F.R. because it holds reportable. Under the FBAR regulations, investments in these vehicles may be treated as securities accounts or as investment fund accounts, depending on. FinCEN has announced that it intends to amend its Treasury regulations to make foreign cryptocurrency accounts reportable on the FBAR.
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