Given your clarification that you re only intending to use cryptocurrency as a capital asset & a long term investment vehicle, and not as a business day trading or trading for others, I would say this definitely is NOT illegal.
The tax man says cryptocurrency is property.
Is Buying Bitcoin legal in USA?
The IRS made this clear in Notice 2014-21.
As long as you report it every time you do transfer it and an income loss/gain is triggered, I see nothing wrong here.
answered Nov 10 '17 at 7:07
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