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Congress Inches Closer to Making Crypto Regulations Clearer

Congress Inches Closer to Making Crypto Regulations Clearer



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14 Comments

  1. Let’s hope these means rolling back regulations and not increasing the amount of red tape. The average person barely understands tax law as it. So Congress sure as shit doesn’t.

  2. Hope they simplify tax rules for crypto. Crypto to crypto swap shouldn’t be taxed since you haven’t benefitted from it yet. It’s technically still paper gain (or loss). If you convert crypto to fiat or used for goods or services then that could be taxed.

    Edit. Crypto to stable coin can be taxed

  3. tldr; The US House of Representatives has passed a bill that would make clearer the rules surrounding cryptocurrencies classified as securities or commodities. The bill would require the SEC and CFTC to jointly establish a digital asset working group. The working group will be given one year to analyze the country’s current laws and regulations pertaining to digital assets.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

  4. This makes me so nervous… my biggest fear is that the government is going to ruin crypto with excessive regulations that only benefit themselves. I hope I’m wrong though.

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