The IRS unveiled new guidelines aimed at tightening crypto tax reporting and closing loopholes.
However, crypto industry leaders strongly oppose the changes, arguing they will stifle innovation and privacy in the US compared to other countries.
Critics believe the rules need to be tailored specifically to crypto, not just copied from traditional asset reporting.
The US Internal Revenue Service (IRS) recently unveiled a set of new tax reporting guidelines. Endorsed by President Joe Biden, these rules aim to tighten the noose on tax evasion in the digital asset space. However, the proposal has been met with a mix of skepticism and outright opposition from key industry figures.
On August 25, the IRS proposed that crypto brokers adopt new forms designed to streamline tax filing and curb tax evasion. The U.S. Department of the Treasury further clarified that the objective is to align digital asset reporting with that of traditional assets.
US Industry Leaders Voice Concerns
Ryan Selkis,
We współpracy z: https://thenewscrypto.com/us-crypto-community-divided-over-bidens-new-tax-reporting-rules/
