H.R. 5083: Cryptocurrency Tax Reform Act
Aug 23, 2021
Pending Analysis
Cryptocurrency Tax Reform Act
This bill modifies the definition of broker for tax reporting purposes to include any person who (for consideration) effectuates transfers of digital assets on behalf of another person. It also treats digital assets (i.e., a digital representation of value that is recorded on a cryptographically secured distributed ledger) as specified securities for reporting purposes.
Current Status
This bill is currently in the legislative process and has not yet been passed into law.
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