US Congressman To Introduce New Crypto Bill Protecting Trump’s Strategic Bitc...
Recent reports revealed that another member of the US House of Representatives will introduce a new bill on March 14 to codify US President Donald Trump’s executive order for a Strategic Bitcoin Reserve (SBR). This move follows recent efforts by several US lawmakers to formalize and protect Trump’s crypto plan. Related Reading: Trump Family Allegedly […]
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Earlier today, Congressman Stockman (TX-36) announced on his website in a press release that he plans to introduce the "Virtual Currency Tax Reform Act." I wish he had taken it a step further and called it the "Digital Currency Tax Reform Act," but one can only have so many wins in a day. This piece of legislation, if enacted, would revise the IRS Virtual Currency Guidance released very late last month. Instead of treating virtual currencies such as Bitcoin as property, the Virtual Currency Tax Reform Act will call for their treatment as currency. The exact text of the proposed legislation....
In a significant development for the crypto industry, Republican Congressman Matt Gaetz is set to introduce a new bill allowing federal income tax payments to be made using Bitcoin (BTC). Gaetz believes that by allowing taxpayers to utilize Bitcoin for their federal tax obligations, the country can foster innovation, enhance efficiency, and provide greater flexibility […]
North Carolina is the most recent US state to introduce a strategic Bitcoin reserve bill. That’s not only good news for Bitcoin – it’s great news for the entire crypto market, including meme coins. North Carolina Speaker of the House Destin Hall announced on X that he had filed the North Carolina Digital Assets Investments […]
Congressman Warren Davidson explained how the cryptocurrency tax addition to the Senate infrastructure bill is bad for the U.S.
Source: United States Congress. Congressman Steve Stockman of the 36th District of Texas is embracing digital currency. He made himself known in the bitcoin space at the end of last year when he began accepting bitcoin donations for a Senate campaign. Last night at the New York City Bitcoin Center, Representative Stockman brought a copy of a bill he's planning to introduce to the 113th Congress (second session) on the topic of virtual currencies. Entitled "To change the tax status of virtual currencies from property to currency", the bill (formally called the Virtual Currency Tax Reform....