Blockchain Association Urges Congress to Pass Crypto Tax Rules, Lays Out 10 Principles
By Unchained
AI summary of the source article
The Blockchain Association sent a letter to congressional leaders requesting bipartisan digital asset tax legislation based on 10 core principles. The proposals include a de minimis exemption, treating stablecoins like cash, and limiting broker reporting to custodial entities.
Why it matters
Lawmakers’ progress on crypto market rules “cannot fully succeed without a tax framework that is clear, administrable, technology-neutral, and aligned with economic reality.”
Key facts
- The Blockchain Association sent a letter on Oct. 22 outlining 10 tax principles to House and Senate leaders.
- The principles call for treating stablecoins like cash, exempting non-custodial developers from broker reporting, and allowing crypto in retirement accounts.
- The House Ways and Means Committee advanced the Digital Asset Tax Certainty Act in September, while the Senate's Clarity Act stalled.
Source excerpt · Unchained
In a letter to the four party leaders in Congress, the trade group asked for a de minimis exemption, wash sale rules for crypto and no tax on moves between a holder's own wallets. The post Blockchain Association Urges Congress to Pass Crypto Tax Rules, Lays Out 10 Principles appeared first on Unchained .