JUST IN: U.S. HOUSE MOVES CLOSER TO MAJOR CRYPTO TAX CHANGES
The U.S. House is expected to take up two major crypto tax bills on Wednesday that could change how Americans report mining, staking and trading activity.
One proposal, H.R. 9175, would give miners and stakers an option to defer taxes on newly created crypto until the assets are disposed of, rather than potentially paying income tax when the rewards are received.
The second bill, H.R. 9172, would extend traditional anti-abuse rules to crypto, including wash-sale rules. That could make it harder for traders to sell crypto at a loss and quickly buy substantially identical assets to claim a tax benefit.
If lawmakers move these proposals forward, the message is clear:
More clarity for miners and stakers.
More restrictions for tax-loss strategies.
And potentially a major shift in how crypto taxes work in the U.S.
The bills still face the legislative process, and changes could be made before anything becomes law.
Crypto taxation in America may be entering a new chapter.
$AIN $LSK $CAP
The U.S. House is expected to take up two major crypto tax bills on Wednesday that could change how Americans report mining, staking and trading activity.
One proposal, H.R. 9175, would give miners and stakers an option to defer taxes on newly created crypto until the assets are disposed of, rather than potentially paying income tax when the rewards are received.
The second bill, H.R. 9172, would extend traditional anti-abuse rules to crypto, including wash-sale rules. That could make it harder for traders to sell crypto at a loss and quickly buy substantially identical assets to claim a tax benefit.
If lawmakers move these proposals forward, the message is clear:
More clarity for miners and stakers.
More restrictions for tax-loss strategies.
And potentially a major shift in how crypto taxes work in the U.S.
The bills still face the legislative process, and changes could be made before anything becomes law.
Crypto taxation in America may be entering a new chapter.
$AIN $LSK $CAP
