Plenty of government regulating bodies are sitting on the sideline when it comes to clarification on the digital currency bitcoin. Now that Overstock is accepting bitcoin is it begs the question of how long it will last before tax implications are clearly expressed and enforced.
The IRS does need to tread lightly, to0 tight regulations or large tax burdens could drive bitcoin underground where they would have no recourse. This would also hinder bitcoin businesses from launching in the USA and moving to more bitcoin free countries like Germany, Singapore and others.
Either way, the pressure is on: