Your Resource for Government on Crypto

Senate Finance Chair Ron Wyden (D-OR) and Ranking Member Mike Crapo (R-ID) wrote an open letter to crypto owners, experts, and other interested parties to solicit input on a wide range of questions regarding the taxation of digital assets. Questions in the letter include whether traders should be allowed to mark-to-market their digital assets, how the IRS might implement reporting requirements to identify crypto transactions that function as so-called wash sales, and what kind of tax treatment should apply to rewards earned in connection with activities like mining and staking. The lawmakers stated that responses will be accepted until September 8.