tldr; Wiley Nickel and Drew Ferguson introduced the Providing Tax Clarity for Digital Assets Act, aiming to simplify the taxation of digital assets by taxing staking rewards only when they are sold, not when received. This bipartisan initiative seeks to eliminate double taxation, promote U.S. leadership in digital asset tax treatment, and foster innovation. The crypto community has responded positively, seeing this as a move towards a fairer tax environment and encouraging compliance.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
nishinoran on
Oh man, this would be amazing, taxes this last year sucked, I got really lucky that someone released a tool for mine.
funk-it-all on
Somebody already sued for this & won in 2018
PastaArt on
I ALWAYS worry when there’s a new law that is supposed to “help” crypto.
4 Comments
tldr; Wiley Nickel and Drew Ferguson introduced the Providing Tax Clarity for Digital Assets Act, aiming to simplify the taxation of digital assets by taxing staking rewards only when they are sold, not when received. This bipartisan initiative seeks to eliminate double taxation, promote U.S. leadership in digital asset tax treatment, and foster innovation. The crypto community has responded positively, seeing this as a move towards a fairer tax environment and encouraging compliance.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Oh man, this would be amazing, taxes this last year sucked, I got really lucky that someone released a tool for mine.
Somebody already sued for this & won in 2018
I ALWAYS worry when there’s a new law that is supposed to “help” crypto.