DIGITAL PARITY ACT GETS MINING & STAKING TAXATION MOSTLY RIGHT
On May 19, Reps Miller and Horsford re-introduced the Digital PARITY Act, which would amend the tax code to address digital assets. This latest draft strikes the right balance on the taxation of mining & staking rewards (collectively, validator rewards). As a reminder, validator rewards consist of two components:Newly minted tokens produced by the open-source software validators run on their computers; andFees paid to validators by blockchain users for inclusion of their transactions onchain....
DIGITAL PARITY ACT GETS MINING & STAKING TAXATION MOSTLY RIGHT
On May 19, Reps Miller and Horsford re-introduced the Digital PARITY Act, which would amend the tax code to address digital assets. This latest draft strikes the right balance on the taxation of mining & staking rewards (collectively, validator rewards). As a reminder, validator rewards consist of two components:Newly minted tokens produced by the open-source software validators run on their computers; andFees paid to validators by blockchain users for inclusion of their transactions onchain....
The Clarity Act's Tax Complication
The latest text of the Clarity Act includes "Regulation Crypto," an exemption from Securities Act registration for some tokens whose value depends on the efforts of an originator or a related person. One of the preconditions for Reg Crypto is that the token issuer be a U.S. entity. That raises two major tax considerations for anyone wishing to rely on the exemption.
The Clarity Act's Tax Complication
The latest text of the Clarity Act includes "Regulation Crypto," an exemption from Securities Act registration for some tokens whose value depends on the efforts of an originator or a related person. One of the preconditions for Reg Crypto is that the token issuer be a U.S. entity. That raises two major tax considerations for anyone wishing to rely on the exemption.
A LOOK AT PARITY
Crypto tax legislative proposals continue heating up...
THE CRYPTO “DE MINIMIS” PROPOSALS
Crypto tax is hot on the Hill these days. In the interest of keeping policy discussions coherent, this post summarizes four separate proposals that crypto advocates often conflate and refer to, colloquially, as a "de minimis" proposal.
THE CRYPTO “DE MINIMIS” PROPOSALS
Crypto tax is hot on the Hill these days. In the interest of keeping policy discussions coherent, this post summarizes four separate proposals that crypto advocates often conflate and refer to, colloquially, as a "de minimis" proposal.
CRYPTO TAX SAFE HARBOR: ETF STAKING
Treasury and the IRS have issued a safe harbor under which a crypto ETF can stake without being taxed as a domestic corporation. The notice, while helpful, presents several questions and challenges.
CRYPTO TAX SAFE HARBOR: ETF STAKING
Treasury and the IRS have issued a safe harbor under which a crypto ETF can stake without being taxed as a domestic corporation. The notice, while helpful, presents several questions and challenges.
