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Blockchain Association responds to US lawmakers’ request for crypto tax guidance

Published 09/08/2023, 03:03 PM
Updated 09/10/2023, 08:00 AM

The Blockchain Association, a United States-based cryptocurrency advocacy group, has submitted suggestions for lawmakers to consider in potential legislation on the tax treatment of digital assets.

In a Sept. 8 letter to U.S. Sens. Ron Wyden and Mike Crapo, the Blockchain Association said lawmakers should support the Keep Innovation in America Act, a bill aimed at changing the reporting requirements for certain taxpayers involved in crypto transactions. According to the advocacy group, any legislation introduced in Congress should “create symmetry” between the taxation of crypto and non-crypto assets, as well as clarify requirements for information on income earned from staking and mining crypto.

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