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There's New Tax Guidance on Crypto. Here's Why That Matters.

Crypto's numbers are going up. A boost from Washington is helping. A range of digital assets were rising Thursday. The price of bitcoin (BTCUSD), which has been flirting with record highs, was recently above $120,000. Shares of companies with large digital holdings, including Coinbase (COIN) and Strategy (MSTR), were also rising—they were recently looking at double-digit weekly percentage gains—though part of the reason for that needs a bit of explanation. The Treasury Department and...