Tag: Tax implications

Senator Cynthia Lummis of Wyoming has strongly criticized President Biden's proposed 30% tax on Bitcoin miners, calling it a "dangerous scheme" and an "attack on innovation." She believes that such a high tax rate...

The IRS has recently introduced new tax reporting rules for cryptocurrency brokers, which are set to take effect in 2025. This framework requires crypto brokers, hosted wallet services, and digital asset outlets to file...

The U.S. Department of the Treasury's Internal Revenue Service has announced new tax rules for cryptocurrency transactions that will take effect in 2025. Crypto brokers will be required to file 1099 forms similar to...