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 minimus exemption for small day-to-day cryptocurrency transactions
- The tax treatment of block rewards as new property rather than income
- The unworkability of applying of the wash-sale rule to crypto transactions.
Read Jason’s written testimony here.
More hearing information is available here.