Ohio senator wants clarity for crypto tax reporting in proposed bill
Senator Rob Portman said lawmakers were "still pulling in information" on crypto to formulate the bill, implying he announced it to the public prematurely. A Republican lawmaker from Ohio is preparing legislation that would reportedly be aimed at preventing U.S. citizens from evading taxes on their crypto earnings.In an interview with CNBC’s Squawk Box today, Senator Rob Portman said he hoped to introduce a bill with bipartisan support after the next congressional recess which would address the problem of many crypto users in the U.S. not paying taxes. The senator said lawmakers “don’t....
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"Who knows how much innovation we’re going to stifle, who knows what kind of new apps never emerge," said Senator Pat Toomey. A compromise which proposed amending provisions in the bipartisan infrastructure deal on crypto failed to meet the requirements of a unanimous consent request in the Senate, making the bill likely to go to a full vote without additional changes.This afternoon, Senator Tom Carper, the Democratic floor manager for infrastructure bill HR 3684, put forth the compromise amendment agreed upon earlier today by Senators Pat Toomey, Cynthia Lummis, Rob Portman, Mark Warner,....
Perianne Boring, the founder and president of the Digital Chamber of Commerce, provided details about the proposed amendment Saturday afternoon. United States senators Mark Warner and Kyrsten Sinema, both Democrats from Virginia and Arizona, respectively, have introduced a new amendment to the infrastructure bill that would lessen the burden on cryptocurrency tax reporting for miners and wallet providers. As Perianne Boring reported Saturday afternoon, the senators are endorsing an amendment that would exclude cryptocurrency miners and hardware and software wallet providers from being....
Cynthia Lummis’ proposed bill reportedly aims to provide regulatory clarity on stablecoins, guide regulators around asset classes and offer consumer protections. Wyoming Senator Cynthia Lummis, one of the United States lawmakers behind many pro-crypto pieces of legislation, is planning to introduce a comprehensive bill next year to handle digital assets. In a Thursday report, Bloomberg said Lummis’ proposed bill aimed to provide regulatory clarity on stablecoins, guide regulators as to which cryptos belong to different asset classes and offer consumer protections. In addition, the U.S.....
Pro-bitcoin Senator Cynthia Lummis of the United States is planning to present a comprehensive crypto bill next year that will explain how different digital assets will be classified and taxed. Pro-Bitcoin Senator Proposes Crypto Bill Senator Cynthia Lummis, a Bitcoin evangelist, plans to introduce a comprehensive crypto bill in the new year. Lummis’ proposed bill, according to Bloomberg, aims to establish regulatory clarity on stablecoins, instruct regulators on which cryptos belong to which asset classes, and provide consumer protections. In addition, the senator is said to have....
House Bill 220 would enable Ohio's governmental bodies to use blockchain and DLT in their operations if signed into law.