As the United States representatives deepens the digital asset policy during what legislators have designed the “Crypto Week” next week, the committee that focuses on fiscal policy will discuss the way to follow correctly to tax cryptography.
The president of the Media and Media Committee of the House of Representatives, representative Jason Smith, announced a hearing on July 16 of the Supervision Subcommittee to analyze the “affirmative steps necessary to place a fiscal policy framework in digital assets,” according to a statement on Wednesday.
Cryptographic taxes are the following online behind the general regulation of markets and the supervision of Stablecoins as a leading policy problem that is expected to call attention to Congress. The two main legislative efforts are expected to see actions next week, including a possible vote of the Chamber to approve the recently approved law of the Senate to regulate Stablecoin emitters.
Taxes on digital assets have long been a mill stone around the industry’s neck, because until cryptographic taxes obtain a reliable and rational tax regime of the United States, investors have to face uncertainty in their accounting approach. The announcement of the Chamber Hearing occurs immediately after the presentation of a bill of Senator Cynthia Lummis last week in the other Congress Chamber that addresses some of the persistent complaints of cryptocurrency users.
Lummis legislation would establish a threshold of $ 300 in cryptographic transactions that would have to take into account user tax calculations, releasing small daily transactions of people from the headaches of capital gains, limited to a total of $ 5,000 per year. And it would also eliminate the double taxes on cryptography given in the rethinking, mining, drugs and bifurcations, eliminating the initial tax when the rewards are received and focus only on the serious profits of the eventual sale.
It is not yet clear what the Chamber takes into account, but the Committee led by Republicans is looking for a friendly policy with the industry, with the audience entitled “, making the United States the cryptographic capital
of the world: guarantee the digital asset policy built for the 21st century. “
Read more: the proposal of cryptographic taxes that did not reach the Trump Budget bill pressed alone
