Blockchain Affiliation responds to US lawmakers’ request for crypto tax steerage

The Blockchain Affiliation, a United States-based cryptocurrency advocacy group, has submitted recommendations for lawmakers to contemplate in potential laws on the tax remedy of digital property.

In a Sept. 8 letter to U.S. Sens. Ron Wyden and Mike Crapo, the Blockchain Affiliation stated lawmakers ought to help the Maintain Innovation in America Act, a invoice aimed toward altering the reporting necessities for sure taxpayers concerned in crypto transactions. In accordance with the advocacy group, any laws launched in Congress ought to “create symmetry” between the taxation of crypto and non-crypto property, in addition to make clear necessities for info on revenue earned from staking and mining crypto.

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