🚨 BREAKING: 🇺🇸 A BIG STEP FOR U.S. CRYPTO TAXES
The House Ways and Means Committee has advanced the Digital Asset Tax Certainty Act in a 38–5 vote.
💰 Key proposal: qualifying crypto network/transaction fees of $10 or less could be excluded from gain-or-loss calculations.
📜 The bill also aims to:
• Simplify taxes for everyday digital-asset transactions
• Clarify the treatment of mining & staking rewards
• Apply certain existing tax rules to digital assets
• Create a voluntary disclosure program for taxpayers
⚠️ 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. 👀🇺🇸
#BTC #Ethereum #ETH #cryptotax #DigitalAssets
The House Ways and Means Committee has advanced the Digital Asset Tax Certainty Act in a 38–5 vote.
💰 Key proposal: qualifying crypto network/transaction fees of $10 or less could be excluded from gain-or-loss calculations.
📜 The bill also aims to:
• Simplify taxes for everyday digital-asset transactions
• Clarify the treatment of mining & staking rewards
• Apply certain existing tax rules to digital assets
• Create a voluntary disclosure program for taxpayers
⚠️ 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. 👀🇺🇸
#BTC #Ethereum #ETH #cryptotax #DigitalAssets
