Tax Coalition Forms to Address Uncertainty in US Cryptocurrency Market

[kreslik.news]

The legal status, and especially the tax classification, of cryptocurrency in the US is a burning issue at the moment following the IRS’ (Internal Revenue Service) demands that the Coinbase Bitcoin and Ethereum exchange will surrender all its US client data.

To help fix the situation, the Chamber of Digital Commerce and Steptoe & Johnson LLP today announced the formation of the Digital Assets Tax Policy Coalition, a Washington, D.C.-based coalition created to help develop effective and efficient tax policies for the market. Participants include exchanges, wallet providers, and transaction processing companies with Steptoe ... (read more)