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Daily Tax Report: International

Cryptocurrency Comes of Age, and the IRS Wants to Know About It

Dec. 31, 2020, 9:46 AM

The internet was abuzz this week with rumors that Carolina Panthers offensive lineman Russell Okung would be receiving half of his $13 million salary in Bitcoin. Okung, whose social media profile on Twitter reads “life, liberty, and #bitcoin” has made no secret of his interest in cryptocurrency, tweeting on Dec. 29, “Paid in Bitcoin.”

And this week, with Bitcoin riding high (one Bitcoin is worth nearly $28,000) the idea made for a great story—only, it appears not to be true. A spokesperson for the National Football League (NFL) confirmed that Okung would receive his salary in U.S. dollars, just like...

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