The King wants to benefit by taking his share of your rewards. This has been the tale since taxes were first imagined, and it hasn’t changed. Our government, through the Sheriff of Nottingham, has decreed that they will come after your cryptocurrencies just as much as your standard money. It should not come as a surprise, and I suppose those that have made money off of Bitcoin (and others) could probably afford to pay the taxes, but I know there will be some that will be alarmed.
The Internal Revenue Service announced on Friday that had begun sending letters to taxpayers who trade virtual currency, and may not have reported those gains properly.
Found at finance.yahoo.com