Did you receive the security? That's income, you owe the IRS money. Did you sell the security and realize a profit? That's also income, you owe the IRS money.
At a macro level it's not hard to understand unless you want to be a special snowflake and pretend this thing you're doing is NEW and DIFFERENT and somehow not income, in which case maybe the IRS doesn't get its cut.
Chances are you're just deluding yourself or are relying on the IRS not coming after you.
you may have intended to respond to someone else, since this doesn't seem to pertain to my assertion that this definition of 'digital assets' seems to include dollars in a bank account
At a macro level it's not hard to understand unless you want to be a special snowflake and pretend this thing you're doing is NEW and DIFFERENT and somehow not income, in which case maybe the IRS doesn't get its cut.
Chances are you're just deluding yourself or are relying on the IRS not coming after you.