๐จ BREAKING: ๐บ๐ธ A BIG STEP FOR U.S. CRYPTO TAXES
The House Ways and Means Committee has advanced the Digital Asset Tax Certainty Act in a 38โ5 vote.
๐ฐ Key proposal: qualifying crypto network/transaction fees of $10 or less could be excluded from gain-or-loss calculations.
๐ The bill also aims to:
โข Simplify taxes for everyday digital-asset transactions
โข Clarify the treatment of mining & staking rewards
โข Apply certain existing tax rules to digital assets
โข Create a voluntary disclosure program for taxpayers
โ ๏ธ Important: This is NOT law yet. It still needs to move through Congress.
But the direction is clear: Washington is actively working toward a more defined federal tax framework for crypto. ๐๐บ๐ธ
#BTC #Ethereum #ETH #cryptotax #DigitalAssets
The House Ways and Means Committee has advanced the Digital Asset Tax Certainty Act in a 38โ5 vote.
๐ฐ Key proposal: qualifying crypto network/transaction fees of $10 or less could be excluded from gain-or-loss calculations.
๐ The bill also aims to:
โข Simplify taxes for everyday digital-asset transactions
โข Clarify the treatment of mining & staking rewards
โข Apply certain existing tax rules to digital assets
โข Create a voluntary disclosure program for taxpayers
โ ๏ธ Important: This is NOT law yet. It still needs to move through Congress.
But the direction is clear: Washington is actively working toward a more defined federal tax framework for crypto. ๐๐บ๐ธ
#BTC #Ethereum #ETH #cryptotax #DigitalAssets
