Crypto Backers Wary of Possible Tax Loophole Closure (Podcast)

Legislation and proposed regulations on cryptocurrency have the potential to answer some open questions about the taxation of digital assets, though not all of the possible changes may be welcomed by industry.

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A bill from Sens. Cynthia Lummis (R-Wyo.) and Kirsten Gillibrand (D-N.Y.) touches on a variety of crypto tax issues. It would provide a narrow definition of broker for tax reporting and require the marking of crypto assets to market for year-end accounting purposes. It ...