Indeed, the whole crypto arena was something of a financial Wild West, with federal authorities scrambling to figure out how to treat it all for tax purposes.
source https://www.google.com/url?rct=j&sa=t&url=https://fortune.com/2021/03/07/theyre-laying-a-trap-everything-to-know-about-the-new-bitcoin-tax-rules/&ct=ga&cd=CAIyGjBkZWE0Yjc3NzNlM2I2MDQ6Y29tOmVuOlVT&usg=AFQjCNEUYb0R7PY4BxHhHBdYmYj9BZStoQ
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