🚨SCOOP: The House Ways and Means Committee is circulating a package of SEVEN digital asset tax discussion drafts that would overhaul how crypto is taxed in the U.S.
The bills tackle everything from stablecoin transactions, mining and staking, crypto lending and wash sale rules to charitable donations and a voluntary disclosure program for taxpayers with past digital asset reporting issues.
The move effectively breaks apart the broader Miller-Horsford Digital Asset PARITY Act, as well as similar legislation introduced last year by @SenLummis, into a series of standalone proposals.
The drafts will likely feature prominently at Tuesday’s scheduled Ways and Means hearing on crypto taxation.
ONE MONTH UNTIL AMERICA’S 250TH! 🇺🇸🦅
250 years of freedom.
250 years of American greatness.
A patriotic summer has just begun as we gear up for the greatest birthday celebration in our nation’s history. The countdown to 250 starts NOW. 🔥
For the first time, contractors can get paid, hold, earn and spend, all inside the same app 💸
Introducing the Deel stablecoin wallet: hold earnings in DLUSD, earn rewards, spend anywhere, with no crypto exchange, separate accounts, or lost value in transit.
Launching in Latin America today, with APAC, MENA, and Africa to follow.
Coming soon for employees! 👀
Thanks to our partners at @Stablecoin, @privy_io, @tempo, @Morpho, and @Sentora for making this possible.
Read more in the comments 👇
Since when do banks get to decide on legislation? The way I understand basic government from the 10th grade is that our elected representatives write and pass laws.
It’s time for Washington to do the right thing. They have heard all sides for 18 months.
Pass a bill that is good for our country! Period.
NOW - Treasury Secretary Scott Bessent: "There will be no central bank digital currency," adding, "the most important thing we can do is to make digital assets come into the United States."
The Clarity Act isn't about protecting an industry. It's about protecting everyday Americans who deserve clear rules when they participate in the multi-trillion dollar crypto economy.
67 million Americans already hold crypto. The data is in. It's time.
See how many holders are in your state: https://t.co/mQb3pbyK7g
Hit a 100x but nobody knows?
Connect your X account to Trojan's Leaderboard and make your name known in the trenches.
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The Senate Banking Committee is putting in the work as it moves the Clarity Act forward… incredible leadership!
Millions of Americans are already in this market. Ripple stands behind this bill because they deserve the same rules and protections as every other asset class. If the largest economy in the world is going to lead on crypto - and it must - this is the moment. Let's get it done!