US introduces new bill to fix tax loopholes in crypto
Crypto regulations are still catching up to the industry’s pace. For retail players and small businesses, they remain complex, inconsistent, and often unclear.
Both sides of Congress are trying to improve upon the existing regulations.
Now, a new bipartisan proposal is aiming to simplify and modernize how the United States taxes digital assets.
The draft bill seeks to amend the Internal Revenue Code of 1986 to create a clearer, more equitable system for crypto users and businesses.
Related: GENIUS Act Passage Sets Foundation for Stablecoin Market to Reach $2 Trillion by 2028
On Dec. 20, Rep. Max Miller (R-Ohio) and Rep. Steven Horsford (D-Nev.) introduced the bill called the Digital Asset Protection,…
