Cross-border Tax Talks Podcast | CRYPTOCURRENCY TRENDS: BLOCKCHAIN GOES MAINSTREAM | Rebecca Lee

Doug McHoney (PwC’s US International Tax Services Co-Leader) is joined by Rebecca Lee (PwC ITS Washington National Tax Partner), who specializes in cross-border financial transactions. They discuss trends in cryptocurrency, including ‘operation hidden treasure,’ taxation of cryptocurrency transactions, US tax reform, El Salvador’s adoption of Bitcoin as legal tender, blockchain in the insurance industry, Bitcoin as an exchange traded fund (ETF), the digitalization of trust, updates on non fungible tokens (NFTs), the impact of decentralized finance (DeFi) on capital markets, and market implications around the world. Timestamps: 1:12 - Life as a working mom with a special-needs child in the middle of a pandemic 3:35 - Are there any general updates on how cryptocurrency is taxed in the US? 4:36 - What US tax reform proposals do people need to consider in regard to cryptocurrency? 7:22 - Trends in cryptocurrency, particularly in El Salvador, where Bitcoin has been adopted as a legal tender. What are the practic