U.S. President Once more Proposes Crypto Mining Tax, ‘Wash Sale Rule’ for Digital Property in New Funds

by Jeremy

In keeping with a abstract desk, the administration tasks it may generate over $1 billion within the 2025 fiscal yr by together with digital asset transactions in wash sale guidelines alone, and north of $8 billion by together with cryptocurrencies in mark-to-market guidelines. Over a 10-year interval, these two guidelines may generate $25 billion and $7.3 billion, respectively (the finances appears to anticipate the mark-to-market guidelines including to the nationwide deficit after 2025). An excise tax on mining may take away some $7 billion from the nationwide deficit over the following decade, the file stated.

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