Digital Assets

Digital Assets

Traditionally, digital assets referred to media files like photos, videos, and documents. However, it now includes blockchain-based assets such as cryptocurrencies (e.g., Bitcoin), non-fungible tokens (NFTs) and stablecoins. These assets often leverage technology to ensure secure, transparent and decentralized ownership without the need for traditional intermediaries like banks.


Digital assets can be owned, transferred or traded and span several categories, including financial assets like Bitcoin and Ethereum, as well as media assets such as digitized creative works and proprietary data. Additionally, tokenized real-world assets represent digital claims on physical items like real estate, while storage and security for all of these are typically managed via digital wallets and cryptographic keys.


Take Action Now:

    • Learn the core concepts that define digital assets
    • Utilize educational resources
    • Understand the risk and returns

Other Resources for You:

  • Digital Asset Transactions: This IRS resource explains commonly asked questions regarding cryptocurrency and digital asset transactions.
  • Introduction to Digital Assets: The Taxpayer Advocate Service of the IRS provides this overview of digital assets.
  • Guide to Blockchain: This resource provides an introduction to blockchain technology which provides a permanent, digital record of transactions and can help to track spending and prevent unauthorized changes to financial history.
  • Guide to Cryptocurrency and Scams: This overview from the FTC provides an overview of cryptocurrency and ways to avoid and report scams.
  • Spotting Common Scams: Scammers often pose as IRS representatives or banks and demand payments via cryptocurrency. This resource from the FTC offers ways to spot these scams.
  • Check out Your Investment Professional: Use this SEC tool to verify if an investment professional is licensed.
  • PA 529 & PA ABLE: Pennsylvanians saving with the PA 529 College and Career Savings Program and PA ABLE Savings Program can now contribute to their accounts using digital gift cards purchased with cryptocurrency. When purchasing a gift card for either PA 529 or PA ABLE contributions, just select the “Alternative Currency (Bitcoin)” payment option when prompted.