TechProposed crypto tax overhaul would raise an estimated $500 million over 10 years
CryptoSlate reports that Congress’s proposal would ease stablecoin and small-fee reporting, including $2.365 billion in relief for transaction fees of $10 or less.
TLDR
Congress’s proposed crypto tax overhaul would pair reporting relief with revenue-raising changes, CryptoSlate reports. Wash-sale restrictions and mark-to-market changes are projected to raise more than $4 billion, offsetting $2.365 billion in relief for transaction fees of $10 or less. The overhaul would ease stablecoin and small-fee reporting while raising an estimated $500 million over 10 years.
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Proposed crypto tax overhaul would raise an estimated $500 million over 10 years
CryptoSlate reports that Congress’s proposal would ease stablecoin and small-fee reporting, including $2.365 billion in relief for transaction fees of $10 or less.
TLDR
Congress’s proposed crypto tax overhaul would pair reporting relief with revenue-raising changes, CryptoSlate reports. Wash-sale restrictions and mark-to-market changes are projected to raise more than $4 billion, offsetting $2.365 billion in relief for transaction fees of $10 or less. The overhaul would ease stablecoin and small-fee reporting while raising an estimated $500 million over 10 years.