Tomorrow at 2pm ET, CCI members @DigitalAssets and @coinbase will serve as expert witnesses for the Ways and Means Committee on the importance of getting the tax treatment of digital assets right. CCI will be in the room supporting. Details 🔽
https://t.co/SoH02fdQhi
CCI is proud to sign @standwithcrypto’s letter respectfully urging @LeaderJohnThune and @SenSchumer to schedule Clarity as soon as possible for consideration by the full Senate. The U.S. needs clear rules of the road and can build on this bipartisan momentum. The time is now.
Stand With Crypto and over 200 organizations sent a simple message to Senate leadership: it's time for the Clarity Act.
The community is unified — large companies, startups, associations, and grassroots groups across the country are counting on their lawmakers to deliver rules of the road for crypto in America.
The Clarity Act passed the Senate Banking Committee with bipartisan support.
Now it needs to cross the finish line. Tell your Senators you want Clarity 👇
In advance of Tuesday’s legislative hearing, the @WaysandMeansGOP just released seven digital asset tax bills. Congress has moved on stablecoins and is working on market structure, but getting the tax treatment of digital assets right is essential to compliance, to everyday use, and to keeping this activity and its revenue in the United States. Tax is the third leg of the stool.
CCI thanks the committee and its staff for putting this work on the agenda and giving it the serious attention it deserves. The June 9 hearing where members will walk through the bills with experts reflects the kind of focused engagement this issue requires.
CCI has set out the principles and priorities we believe should guide this reform, and we look forward to engaging with members on both sides as the process moves forward.
NEWS: Seven discussion drafts for crypto tax bills are circulating among Ways & Means offices
W&M R's are planning to drop proposals before next week's crypto tax hearing
! @PunchbowlNews Vault subscribers have the draft text. Includes proposals on treatment of mining/staking, lending agreements w/ digital assets, wash sale & constructive sale rules, charitable contributions and MORE
Today, at the @Vault__Summit, CCI launched the Vault Coalition.
Anchored by @galaxyhq and @Morpho, this is a focused industry effort to advance regulatory clarity for vault structures in digital assets. Why did CCI launch this? ⬇️
The Coalition is doing the substantive work to close that gap: legal analysis from outside counsel, market-informed policy principles drawn from real activity, and engagement with U.S. regulators.
Policy expertise drawn from government, finance, tech, and law, applied to the regulatory future of digital assets.
@amangiero, Chief Strategy Officer and Head of U.S. Policy at @crypto_council, will take the stage at Vault Summit NYC.
June 5, New York · https://t.co/H1746Z3Wys
Yesterday, CCI filed a comment letter on @USTreasury's proposed rule establishing the broad-based principles for determining whether a State’s stablecoin regime is substantially similar to the federal framework under the GENIUS Act. Key points ⬇️
By implementing principles for evaluating substantial similarity that promote regulatory consistency, payment stablecoin fungibility, and reciprocity across States, Treasury will help establish the U.S. as a leader in payment stablecoin adoption and innovation.