The Crypto Tax Bill Gets Block Rewards Wrong
The House Ways and Means Committee is considering a crypto tax bill today that addresses many of Coin Center’s priorities. There are thoughtful provisions we support, including continued progress on...
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Congress must understand: Block rewards are newly created property, not income.
Mining bitcoin creates new property. The Bitcoin software permits those who successfully validate transactions to create new coins for themselves. There are currently more than 20 million bitcoins in circulation,...
Testimony on Digital Asset Taxation before the House Ways & Means Committee
Director of Policy Jason Somensatto testified before the House Ways & Means Committee to discuss tax issues facing the users of digital assets today. Some issues discussed were: A de...
The Wash-Sale Rule Would Break Crypto Tax Compliance
The wash-sale rule was designed for a narrow context: securities held as long-term investments, typically within a single account, where taxpayers can deliberately time tax losses without changing their economic...
Six Ways Congress Can Make Crypto Taxes Work for Everyday Users
At Coin Center, our mission is to defend the rights of individuals to build and use free and open cryptocurrency networks. Sound tax policy is central to that mission. Without...
Tax-deductible giving is now possible at Coin Center
Coin Center’s critical work defending the innovators building permissionless software has been made possible by the generous contributions of those in the community who believe in our mission. Today we...
Senate Finance Committee: Examining the Taxation of Digital Assets
Policy Director Jason Somensatto testified on the tax issues facing cryptocurrency users. Watch video of the hearing here. Jason's testimony is available here.
Six months of crypto policy: The good, the bad, and the lingering questions
We’re six months into the new administration and the 119th Congress. So much has happened that it’s difficult to keep it all straight. For clarity, here are the big news...
Trump’s Big Crypto Report Is Coming. It Should Address Block Rewards and Privacy.
President Trump’s Executive Order on digital assets (EO 14178) directed the agency heads sitting on the President’s Working Group on Digital Asset Markets to produce a report reevaluating outdated or...
Coin Center director of policy Jason Somensatto testified on fair tax treatment for block rewards and de minimis crypto transactions. Hearing information is available here. Jason's testimony is available here....