Bloomberg: New House bill proposes tax safe harbors for stablecoins and crypto staking
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Bloomberg: New House bill proposes tax safe harbors for stablecoins and crypto staking
According to Bloomberg, bipartisan lawmakers in the U.S. House of Representatives are drafting a cryptocurrency tax framework that would provide a safe harbor for certain stablecoin transactions and delay taxation on rewards received for validating blockchain transactions. The draft proposal is jointly put forward by Republican Representative Max Miller of Ohio and Democratic Representative Steven Horsford of Nevada, aiming to align the tax treatment of cryptocurrencies with that of traditional securities.
Navigating Web3 tides with focused insightsTechFlow news, December 22 — According to Bloomberg, bipartisan members of the U.S. House of Representatives are drafting a cryptocurrency tax framework that would provide a safe harbor for certain stablecoin transactions and delay taxation on rewards received for validating blockchain transactions.
The draft was jointly proposed by Republican Representative Max Miller of Ohio and Democratic Representative Steven Horsford of Nevada, aiming to align the tax treatment of cryptocurrencies with that of traditional securities.
