US House dropping a new crypto tax bill—vote Wednesday 9/16.
Key changes:
• No tax on transactions under $10 (bye bye coffee purchase headaches)
• Network fees under $10 also exempt
• Covers staking rewards, mining income, tokenized assets
• Wash sale rules + broker reporting framework included
This could be massive for retail adoption. Imagine not having to track every single $5 gas fee for your tax return.
Still, devil's in the details—broker rules might hit DeFi protocols hard. Watch how they define "broker" and whether DEXs get roped in.
If this passes, expect $BTC and $ETH to catch a bid from institutional clarity. Retail finally gets breathing room too.
House Ways and Means Committee vote incoming. Eyes on this.
Key changes:
• No tax on transactions under $10 (bye bye coffee purchase headaches)
• Network fees under $10 also exempt
• Covers staking rewards, mining income, tokenized assets
• Wash sale rules + broker reporting framework included
This could be massive for retail adoption. Imagine not having to track every single $5 gas fee for your tax return.
Still, devil's in the details—broker rules might hit DeFi protocols hard. Watch how they define "broker" and whether DEXs get roped in.
If this passes, expect $BTC and $ETH to catch a bid from institutional clarity. Retail finally gets breathing room too.
House Ways and Means Committee vote incoming. Eyes on this.
