Is Crypto Legal Tender in the U.S.?

Adekunle Joshua

Crypto is legal in the U.S., but it is not considered legal tender

Crypto exchanges are legal in the U.S., but regulations vary by state and regulator

The federal crypto regulators in the U.S. include the SEC, CFTC, Treasury Department (IRS), Office of the Comptroller of the Currency, and FinCEN

They are most important crypto regulators as they determine if crypto is a money transmitter, security, or commodity

The U.S. aims to establish a functional regulatory framework

Crypto profits are subject to taxation in the U.S. due to financial information obtained from exchanges like Binance or Coinbase

Crypto generated through mining is not considered a security, but if it passes the Howey Test, it falls under SEC jurisdiction and is regarded as one