Would cash apping people be considered gifting digital assets

[TaxLearner]

can you people elaborate? are you just paying some back with cash?

[JohnB5677]

Don't confuse the transmission device with the type of currency.  If you use Cash App or even make a bank transfer, it is an electronic transaction, but it is not a digital currency transaction.  Digital currency refers to the type of money you are transferring.   If it is US Dollars, it is not digital currency.  

Digital currency is often referred to as Cryptocurrency and it includes Bitcoin (BTC), Ethereum (ETH) Tether (USDT), Binance Coin (BNB), XRP (XRP) and many others.

As far as the gifting issue is concerned.  If you are giving money or assets (Cryptocurrency is an asset) to an individual it is not taxable to that individual.  However, the IRS allows a taxpayer to gift up to $17,000 to an individual recipient in one year. There is no limit to the number of recipients you can give a gift to.  If you exceed that amount you will have to prepare a gift tax return.