Add as a preferred source on GoogleBlockchain Association Urges Congress to Advance Crypto Tax Legislation
The group proposed a small-transaction tax exemption and said mining and staking rewards should be taxed when disposed of.
The Blockchain Association urged leaders in both chambers of Congress on Thursday to advance bipartisan digital asset tax legislation, including a disposal-based tax approach for mining and staking rewards.
The group proposed a meaningful tax exemption for small transactions. It also called for treating mining and staking rewards as newly created property and taxing them when disposed of, alongside privacy protections in tax reporting and rules based on economic substance.
The association launched a public website to explain its proposals, track congressional progress and let people express their views to lawmakers.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.