Topics covered include: What is virtual currency?; Why individuals and businesses use virtual currency; How individuals and businesses acquire and use virtual currency; IRS guidance and open issues; Transactions, events, and activities not addressed by IRS guidance (Notice 2014-21); Beyond just virtual currency-blockchain uses beyond bitcoin + ICOs; Due diligence considerations in assisting clients holding and using virtual currency; Resources. Upon completing this course, you should be able to: Identify virtual currencies, and how they are created and used; Describe the guidance from the IRS and open issues and how to deal with them; Identify types of cryptocurrency; Identify characteristics of a closed-flow virtual currency system; Recognize characteristic of the blockchain; Identify a blockchain split resulting in a major change in the protocol; Identify types of alternative currency; Recognize types of virtual currency system allows for the purchase of U.S. dollars with virtual currency; Identify reasons to use Bitcoin and other virtual currencies; Recognize which notice the IRS addressed the topic of virtual currencies; Identify blockchain splits resulting in a new chain still recognized by the older software/protocol that is similar to a software upgrade; Describe an event where tokens or virtual currency are generally used for funding and to build a network for a stated purpose.