Crypto Tax Proposal Is Attempt to 'Kill' Adoption in US

[raiders72001]

They are going after DEXs too.

[COLOR=rgb(42 43 44/var(--tw-text-opacity))]Chairman of the House Financial Services Committee Patrick McHenry today claimed that the Biden Administration was trying to "kill" the digital asset industry in the U.S. with its new proposal for crypto tax regulations.[/COLOR][COLOR=rgb(42 43 44/var(--tw-text-opacity))]McHenry (R-NC) said in a statement Friday that the new proposal was lacking clarity and urged for clearer rules.[/COLOR]

[COLOR=rgb(42 43 44/var(--tw-text-opacity))]Top cryptocurrency exchanges may soon have to report customer information to the Internal Service Revenue (IRS) under the rules proposed by the Biden Administration on Friday.[/COLOR]

https://decrypt.co/153764/patrick-mc...o-tax-proposal

[raiders72001]

[COLOR=rgb(42 43 44/var(--tw-text-opacity))]The new rules would ask platforms that facilitate the buying and selling of digital assets, also known as crypto brokers, to track and report key information—as stock and bond brokers currently do.[/COLOR]
[COLOR=rgb(42 43 44/var(--tw-text-opacity))]The proposed rules would also target decentralized exchanges (DEXs). Such crypto exchanges do not collect customer data and require no personal details from users—unlike Binance or Coinbase.[/COLOR]

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