🏦 U.S. House unveils 114-page crypto tax bill, proposing to waive transaction fees under $10.
The Digital Asset Tax Certainty Act, led by Chairman Jason Smith, is expected to be considered at 10:00 a.m. Wednesday (ET) and to expand the wash-sale rule to digital assets.
Why is it noteworthy?
Exempting small network fees makes filing easier, but it excludes anyone who traded more than 5,000 times in the prior year.
Simply put:
Small users won’t have to report every few-dollar fee, in exchange for limits designed to prevent abuse.
#CryptoRegulation #CryptoNews
🔗 Source: Cryptonews
⚠️ Information is for reference only and not investment advice. Do your own research before making any decision (DYOR).
The Digital Asset Tax Certainty Act, led by Chairman Jason Smith, is expected to be considered at 10:00 a.m. Wednesday (ET) and to expand the wash-sale rule to digital assets.
Why is it noteworthy?
Exempting small network fees makes filing easier, but it excludes anyone who traded more than 5,000 times in the prior year.
Simply put:
Small users won’t have to report every few-dollar fee, in exchange for limits designed to prevent abuse.
#CryptoRegulation #CryptoNews
🔗 Source: Cryptonews
⚠️ Information is for reference only and not investment advice. Do your own research before making any decision (DYOR).