US Internal Revenue Service official: Airdrops (free airdrops) generated by non-hard forks are currently not available for new encrypted tax guidelines

According to BloombergTax, in October, the US Internal Revenue Service (IRS) updated the cryptocurrency tax guidelines for the first time in five years, involving taxation issues such as forked coins. However, the guidelines are somewhat vague on the tax issues brought about by airdrops. The IRS defines the new cryptocurrency received by investors after a hard fork as an airdrop. However, in general, airdrops in the cryptocurrency industry refer to the company as a marketing method to provide free token or token rewards to cryptocurrency holders. Christopher Wrobel, a lawyer at the Office of the Deputy Chief Legal Adviser (IRS) of the US Internal Revenue Service (IRS), said that although the income generated by hard forks should be taxed according to the new guidelines, it does not apply to promotional airdrop giveaways. However, Wrobel does point out that the IRS has not yet decided whether to treat such free airdrops as taxable objects.