The crypto-focused policy nonprofit Coin Center has urged two Congress members for clearer crypto regulations when it comes to taxation.
Coin Center sent a letter to Senate Finance Committee Chairman Ron Wyden and Finance Committee Ranking Member Mike Crapo.Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.The crypto-focused policy nonprofit Coin Center has urged two Congress members for clearer crypto regulations, especially when it comes to taxation.
"If a country wishes to tax cryptocurrencies as property and collect capital gains taxes when cryptocurrencies are sold at a profit, then it should provide guidance on how to account for basis," Coin Center wrote. "There should also be a threshold in the amount gained below which no tax is due.
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