Republican Senators Call on Treasury To Ease Crypto Tax Laws To ‘Level Playing Field’ With Foreign Companies
Pro-crypto Republican Senator Cynthia Lummis of Wyoming is pressing the US Treasury to ease crypto tax laws as a means of evening out the playing field with foreign companies.
In a new thread on the social media platform X, Lummis says that the US’s competitive advantage in digital finance is at risk due to US companies being taxed more than their foreign counterparts, a loophole she and Republican Senator Bernie Moreno of Ohio are trying to close.
“Our edge in digital finance is at risk if U.S. companies are taxed more than foreign competitors. [Representative Bernie Moreno] and I urged the US Treasury to lift an unintended tax burden on U.S. digital asset companies. To lead the world in digital assets, we need a level…
