Originally Posted by
hopefultxn
Most people seem to have a need to classify this as something that would fall under IRC section 988... However, as I have been informed, as well as read for myself, this section is stated for things like future contracts, options, debts, etc. Not for when people are holding an actual physical currency and reap benefits from a change in exchange rate.
What it comes down to really is that we don't know if there will be any profit made from this speculation. It's a little premature to worry about imprisonment, fines or penalties on something that hasn't made anyone a significant amount of money.