🚨 US Lawmakers Introduce Cryptocurrency Taxation Bill
A new bill regulating the taxation of cryptocurrencies has been introduced in the United States. The proposal aims to clarify tax reporting and accounting rules for digital assets, including Bitcoin, altcoins, and stablecoins.
According to the initiative, the bill seeks to establish unified requirements for declaring income from cryptocurrency-related activities for both individuals and legal entities. It also addresses the taxation of transactions, mining, staking, and operations involving decentralized finance (DeFi) protocols.
The document pays particular attention to stablecoin transactions. Specifically, it considers threshold amounts for small payments that could be exempt from mandatory tax reporting in order to simplify the everyday use of digital assets for payments.
The authors of the bill state that its goal is to increase transparency in the crypto market, reduce legal uncertainty, and align the taxation of digital assets with existing financial regulations.
At this stage, the bill is under review and discussion. For it to come into force, approval by both chambers of the US Congress and the signature of the President will be required.
