The Virtual Currency Tax Fairness Act was introduced by Senator Ted Budd and cosponsored by Senators Kyrsten Sinema, Kirsten Gillibrand, and Cynthia Lummis. The bill creates a sensible de minimis...
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The Virtual Currency Tax Fairness Act of 2022 was introduced with bipartisan sponsors in the Senate today. This is a companion to a bill with the same name that has...
Congress takes a step toward a de minimis exemption for everyday cryptocurrency transactions
The Virtual Currency Tax Fairness Act of 2022 was introduced with bipartisan sponsors in Congress today. It would create a sensible de minimis exemption for low value cryptocurrency transactions in...
Congress takes a step toward a de minimis exemption for everyday cryptocurrency transactions
The Virtual Currency Tax Fairness Act of 2020 was introduced with bipartisan sponsors in Congress today. It would create a sensible de minimis exemption for low value cryptocurrency transactions in...
If Budget Reconciliation is used for Tax Provisions, Crypto should be Included
In the wake of a political sea change in Washington, Republicans have begun discussing tax changes for next year. The discussion centers around a process known as “budget reconciliation” and...
New Legislation Proposes Clear Tax Guidelines for Crypto Block Rewards
A bill was introduced in Congress which would clarify that taxes on block rewards are not due at the time of acquisition, but instead upon their sale or disposition. The...
The ideal regulatory environment for Bitcoin
We’re often asked what our ideal regulatory environment would be for Bitcoin and cryptocurrencies like it. A few years ago, in a regulatory submission to the Indian Ministry of Finance,...
A Simple Legislative Fix to Complicated Tax Rules for Personal Cryptocurrency Transactions
Existing rules for the taxation of cryptocurrency can make even the simplest of transactions a confusing ordeal to track, record, and report. A legislative fix is needed for everyday transactions,...
Six months of crypto policy: The good, the bad, and the lingering questions
We’re six months into the new administration and the 119th Congress. So much has happened that it’s difficult to keep it all straight. For clarity, here are the big news...
Coin Center director of policy Jason Somensatto testified on fair tax treatment for block rewards and de minimis crypto transactions. Hearing information is available here. Jason's testimony is available here....