🔸 A U.S. senator has just started to introduce a cool bill that completely exempts tax for Stablecoin transactions under $200. Specifically, Stakers and miners can choose to defer taxes for up to 5 years before they have to pay, instead of being taxed by the IRS immediately upon receiving the token like they currently are. This mechanism is extremely beneficial for long-term Holders! $BTC
🔸 Don't celebrate too soon, the bill also comes with a caveat when it wants to apply the Wash Sale rule to Crypto. This means that the tactic of selling at a loss to reduce taxes and then immediately buying back will be strictly prohibited. The game is gradually becoming more professional and fairer, like with securities; traders should be careful in their calculations. $ETH
If this law is passed, will the Holders be happy or suffer? Please follow for the latest news updates!
This article is for reference only and is not investment advice. Please read carefully and consider thoroughly before making any decisions.
